Pemex plan disappoints suppliers awaiting billions in overdue payments

Major Mexican Supplier Reckoning Looms Over Pemex Payment Crisis

What’s Happening?

Pemex, Mexico’s state-owned oil giant, has unveiled a new business plan that fails to outline specific strategies for addressing its colossal debt to suppliers, despite vowing to accelerate payments. This debt crisis, now nearing $23 billion, threatens production and стороны like Halliburton and Baker Hughes.

Where Is It Happening?

The financial tensions are unfolding across Mexico, putting immense pressure on both Pemex and the national economy.

When Did It Take Place?

Rafael Espino of AMESPAC revealed these developments following a critical meeting on Tuesday, offering insight into the future of Mexico’s energy sector.

How Is It Unfolding?

– AMESPAC members are owed 65 billion pesos ($3.49 billion) for un-invoiced work.
– No specifics were provided for clearing 2024 debts, raising alarms for immediate liquidity.
– Pemex plans to speed up payments, Cap invoice aging at two months, and bolster cash reserves.
– The company aims to tap into a special $13 billion fund for 2025 projects and reduce its tax burden.
– Supplier backlash grows, with firms like Halliburton and Grupo Mexico halting operations due to missed payments.

Quick Breakdown

– Pemex owes suppliers $23 billion, with another $100 billion in financial debt.
– Impending crisis threatens Mexico’s crude production target of 1.8 million bpd.
– Grupo Carso reveals $700 million in unpaid bills, while Grupo Mexico halts four platforms.
– International firms such as Baker Hughes, Weatherford, and SLB are disproportionately affected.

Key Takeaways

Pemex’s chronic debt problem is now threatening to cripple crucial suppliers, stifling production and stalling Mexico’s energy ambitions. Without clear pathways to repay outstanding obligations, smaller firms risk collapse, leaving the industry and economy vulnerable. Mexico’s crude production goals hinge on resolving Pemex’s massive backlog of payments, as firms like Halliburton and Grupo Mexico continue to halt operations.

Pemex’s growth hinges on trust. This debt crisis risks alienating global players and jeopardizing billions in future investment.
– Energy Analyst Maria Cortés, Oxford Petroleum Institute

Final Thought

Mexico’s oil sector is at a crossroads. Without a concrete plan to address supplier debts, Pemex risks a collapse in production that would ripple through the entire economy. Immediate intervention and transparency are necessary—otherwise millions could suffer.

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Source & Credit: https://www.reuters.com/business/energy/pemex-plan-disappoints-suppliers-awaiting-billions-overdue-payments-2025-08-07/