Pemex supplier debt reaches approximately $21 billion USD

The Mexican Association of Oil Service Companies (AMESPAC) reports that Pemex owes its suppliers approximately $21 billion USD. This figure represents nearly 85 percent of the historic debt level that previously necessitated an extraordinary payment program involving Banobras.

Rafael Espino, president of AMESPAC, contested claims made by President Claudia Sheinbaum, who suggested that only a few providers remained unpaid for 2024 work. Espino stated that approximately $10 billion USD is owed from 2024 alone, with 96 percent of that amount corresponding to completed works that companies have been unable to even invoice.

According to the association, more than nine out of every ten pesos of this debt are not being recognized in Pemex's financial statements. In addition to the 2024 arrears, an estimated $9 billion USD in unpaid invoices and unbillable work has accumulated during the current year. AMESPAC is calling for an immediate route to recognize, invoice, and pay for services effectively rendered to avoid returning to previous levels of financial crisis.