[REVISION HISTORY]

Pemex financial and operational challenges

Updated 3 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-20 17:23 UTC → 2026-08-22 19:24 UTC · added ~~removed~~

In early August 2026, Pemex reported that illegal fuel‑theft (huachicol) was costing the company roughly 101 million pesos per day, the highest loss for a comparable period since 2018. Production rose only marginally to 1.658 million barrels per day, leaving the firm far short of its target of 1.8 million barrels per day. Despite a quarterly profit driven by high oil prices and government contributions, Pemex posted a net loss of 27.97 billion pesos for the first half of the year and maintained a debt load of approximately 77 billion dollars. A few days later, the company’s financial strain manifested in payment disputes with more than 300 transport firms. The fertilizer subsidiary Fertinal fell behind on payments exceeding 100 million pesos, prompting threats of road blockades and government‑mediated dialogue via the interior ministry. Similar disputes arose at Protexa facilities, where providers blocked equipment over unpaid balances dating back to 2023–2024, requiring National Guard involvement. The crisis expanded in mid-August when the Mexican Association of Oil Service Companies (Amespac) issued a public complaint regarding significant payment irregularities. Representing 49 major national and foreign providers, Amespac reported that unresolved debts from 2024 have caused “great uncertainty” and could compromise hydrocarbon production processes. For most Amespac members, these outstanding amounts exceed 27,240 million pesos (approximately 1,553 million U.S. dollars). By August 20, President Claudia Sheinbaum Pardo announced that Pemex has settled approximately 95 percent of its outstanding debts to suppliers and service providers. While acknowledging that some cases remain unresolved—specifically involving small business owners in Tamaulipas who reported unpaid services from 2024 or 2025—she emphasized that the volume of pending cases has decreased significantly. She affirmed that any services effectively provided to the state-owned company must be paid. However, industry representatives and labor unions have disputed the completeness of these figures.

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