Pemex Promises to Settle Supplier Debts as Pressure Mounts

Pemex, the Mexican state-owned energy company, is collaborating with the finance ministry to address supplier payments in the coming months, as announced by President Claudia Sheinbaum. Despite previous debt reduction efforts, Pemex remains heavily indebted and owes substantial amounts to oil service providers.

The Mexican state energy company, Pemex, has announced plans to collaborate with the finance ministry to ensure the payment of its suppliers within the next three months. President Claudia Sheinbaum conveyed the commitment during a regular morning press briefing, though specific financial details were not disclosed.

Sheinbaum emphasized that no supplier would be left unpaid, ensuring the availability of resources and cooperation with the finance ministry to address this financial obligation. This move comes as Pemex continues to grapple with its status as one of the most indebted energy companies globally, despite past efforts to minimize debt levels under former President Andres Manuel Lopez Obrador.

In response to escalating concerns, the association representing vital oil service providers in Mexico recently called on Pemex to settle overdue debts amounting to 103.6 billion pesos ($5.1 billion). This highlights the urgency of financial stabilization for Pemex amidst mounting pressure.

(With inputs from agencies.)