Pemex still owes suppliers and contractors more than 133 billion pesos, for work carried out in 2023 and 2024.
Mexican Petroleum (Pemex) As of May 2024, it maintains a total debt with suppliers and contractors of 133.9 billion pesos, a decrease of 9.70% compared to the last report, according to data from the oil company as of May 31.
The debts that the national oil company accumulates with national and international supplier companies have already caused a crisis and threaten oil production and the supply of petroleum products in the national territory due to the number of months owed to some suppliers.
In mid-2021, the Pemex Exploration and Production subsidiary (PEP) renegotiated contracts, rates and payment dates, which have allowed it to continue operations and begin a payment scheme for suppliers and contractors that began in February of that year.
In 2022, the state oil company launched the issuance of $2 billion in global unsecured notesto 2029, of which it only placed 1.5 billion, which were destined to exchange them for pending invoices with a portion of suppliers and contractors.
At the extraordinary meeting on March 8, 2023, the Pemex Board of Directors instructed the Corporate Finance Department to design and implement a financial mechanism to ensure payment to suppliers and contractors.
However, these actions have been ineffective in covering the national oil company’s debts with service providers, small companies and private oil companies operating in the country.
According to Pemex data, the company has managed to pay suppliers for 2020 debts, the equivalent of 238,282 million pesos.
The state’s productive company completed payments to suppliers for 2021 debts, for a total of 348,323 million pesos.
While payments made to suppliers during 2022 were completed, for an amount of 462,270 million pesos.
Payments for debts incurred in 2023 totaled 382,894 million pesos, while 10,881 million pesos are still owed.
As of the fifth month of 2024, the national oil company has paid 201,830 million pesos, however, the recognized uninvoiced debts increased from one month to the next.
To this amount we still have to add the work carried out by suppliers and contractors that are still pending billing, amounting to a total of 879 million 731 thousand pesos.
The work pending receipt of invoices in the national oil company’s payment system went from 139 million pesos in March to 879 million in May.
In March 2021, the national oil company and the AC Oil Services Company Association (AMESPAC) They agreed that the reports of debts to the companies would be made public. In addition, Pemex promised that as of February 2021 it would begin to settle the debts.
It should be noted that the report excludes credit notes, taxes, as well as payments and debts not associated with contracts-orders registered in Pemex’s institutional financial systems.
The report also does not include the works, services or goods in the process of conciliation with suppliers and contractors.
