Pemex to pay back US $6.4B in debt by the end of April

State lipid institution Pemex plans to settee a indebtedness with suppliers totaling up to US $6.4 cardinal betwixt March and April, according to Rocío Abreu, the caput of the Chamber of Deputies’ Energy Commission.

Abreu told the paper El Economista that the fig represents astir a 4th of its full indebtedness to suppliers.

“This month, we volition disburse US $3 cardinal followed by $3.4 cardinal adjacent month,” Abreu said successful an interrogation with El Economista during the commemoration of the 87th day of the authorities lipid company’s expropriation astatine the Pemex Tower successful Mexico City.

She added that these advances see payments to small and medium-sized companies (SMEs) and micro-companies (MSMEs) successful the states wherever Pemex’s debts person increased, specified arsenic Campeche, Tabasco, Veracruz, Tamaulipas and Chiapas.

“We’re moving with Petróleo Mexicanos, but besides with the Finance Ministry, to guarantee this benefits small, medium-sized, and ample businesses,” she said.

As for the root of the funds, Abreu explained that portion portion of the backing comes from Pemex, the national authorities volition besides contribute. Additionally, a bank factoring plan allows those with outstanding debts to person their invoices into collectible assets backed by Pemex’s committedness of payment.

Pemex section suppliers successful Ciudad Carmen, Campeche, past twelvemonth protested the deficiency of outgo by the authorities lipid institution — a recurring occupation successful past years. (Petroleros al Aire)

At the extremity of past year, Pemex’s indebtedness to suppliers exceeded US $25 billion, reaching historical highs with a 26% yearly increase.

According to El Economista, Pemex’s supplier indebtedness accrued aft President Claudia Sheinbaum took bureau successful October of past year. The caller medication temporarily paused respective payments to reappraisal their origins and negociate agreements with the Finance Ministry to debar placing an overwhelming short-term fiscal load connected Pemex.

In an interrogation with Radiofórmula, Rafael Espino de la Peña, president of the Mexican Association of Petroleum Service Companies (Amespac) — which includes multinational companies specified arsenic Baker Hughes, Emerson, Halliburton, and Grupo México — said that Abreu’s connection is encouraging.

“Any outgo is welcomed. It is ever encouraging to perceive that a outgo volition beryllium made, but we’re waiting for it  to really happen,” helium said.

Espino noted that Pemex made nary payments successful the past 3 months of the erstwhile medication — which ended successful September 2024 — and that the concern remains unchanged  since Sheinbaum took office, as  unnecessary reviews  of outgo delays occurred contempt each task having a fund allocation for contracting.

According to Espino, SMEs person unopen down owed to insufficient fiscal resources arsenic they awaited payment. He besides noted that the caller driblet successful Pemex’s liquid hydrocarbon accumulation is linked to a reduced proviso of goods and services caused by the company’s nonaccomplishment to marque payments.

“[Lack of payment] earnestly compromises production,” Espino highlighted “Production has been declining due to the fact that [capital expenditures] were reduced.”

Pemex is 1 of the world’s astir indebted lipid companies, with debt and liabilities successful excess of US $100 billion.

With reports from El Economista