Background on Pemex and its Suppliers
Petróleos Mexicanos (Pemex) is Mexico’s state-owned petroleum company, responsible for exploration, production, refining, and marketing of petroleum and petrochemical products. The Asociación Mexicana de Empresas de Servicios Petroleros (Amespac) represents numerous companies providing essential services to Pemex.
The Current Financial Crisis
As of the third quarter of 2025, Pemex owes its suppliers a staggering 404 billion pesos in unpaid accounts, representing only a 20% reduction from the over 500 billion pesos owed at the end of 2024. This debt is 260% higher than in 2018, highlighting the severity of Pemex’s financial struggles.
Amespac’s Warning and Demands
On Monday, Amespac issued a stern warning that numerous suppliers might cease operations by July if Pemex fails to settle its debts. Amespac members alone have unpaid contracts worth over 50 billion pesos, with some outstanding for more than a year.
The association emphasized that the cash flow of many companies is “seriously compromised,” forcing them to drastically reduce their activities. Amespac stated that “in most cases, they cannot ensure operational continuity beyond July 2025.”
Amespac’s Demands for Resolution
To address this dire situation, Amespac has called for a negotiation table involving the Presidency of the Republic, the Secretaría de Hacienda y Crédito Público (Ministry of Finance), the Secretaría de Energía, and Pemex’s management. Their proposed objectives include:
- Recognition and release of invoiced services provided and certified in 2024
- Guarantee of regular invoicing and timely payment 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 numerous companies providing essential services to Pemex.
- Why are suppliers threatening to halt operations? Suppliers are facing severe cash flow issues due to Pemex’s unpaid debts, which threaten their ability to continue operations beyond July 2025.
- What are the key demands of Amespac? Amespac is seeking recognition of invoiced services, regular invoicing and timely payments for 2025 services, and a payment program to settle historical debts.
