Background on Pemex and its Impact
Petróleos Mexicanos (Pemex) is Mexico’s state-owned petroleum company, responsible for exploration, production, refining, and marketing of oil and petroleum products. As the largest company in Mexico, its operations significantly impact the nation’s energy sector and overall economy.
The Amespac Warning
The Asociación Mexicana de Empresas de Servicios Petroleros (Amespac) represents numerous companies providing essential services to Pemex. These firms have been facing severe cash flow issues due to unpaid debts from the state-owned company.
Debt Overview
- By the end of the third quarter, Pemex owed its suppliers approximately 404 billion pesos, a mere 20% reduction from over 500 billion pesos at the end of 2024.
- The current debt is 260% higher than in 2018, highlighting the growing financial strain on suppliers.
Government Commitments and Progress
In November of the previous year, President Claudia Sheinbaum had expressed hope for settling a significant portion of the debts during the first quarter of 2025. However, progress has been limited.
Amespac’s Demands
With cash flow issues threatening their operations, Amespac members have unpaid work totaling over 50,000 million pesos, some dating back more than a year.
Amespac has called for negotiations with the Presidency of the Republic, the Secretariat of Finance and Public Credit, the Secretariat of Energy, and Pemex’s management to address the following:
- Recognition and release of invoiced services provided and certified in 2024
- Guarantee of regular invoicing and timely payments for services in 2025
- Creation of a payment program to settle historical debts
Key Questions and Answers
- Who is Amespac? Amespac is an association representing companies that provide essential services to Petróleos Mexicanos (Pemex).
- Why are suppliers threatening to halt operations? Suppliers are facing severe cash flow issues due to unpaid debts from Pemex, which threaten their ability to continue operations.
- What is the extent of Pemex’s unpaid debts? As of the third quarter, Pemex owed its suppliers approximately 404 billion pesos, a 20% reduction from over 500 billion pesos at the end of 2024. This debt is 260% higher than in 2018.
- What are Amespac’s demands? Amespac is calling for negotiations to recognize and release invoiced services, guarantee regular invoicing and timely payments for 2025 services, and create a payment program to settle historical debts.
