Overview of Pemex’s Debt Management Plan
Petróleos Mexicanos (Pemex), Mexico’s state-owned petroleum company, has committed to fulfilling its debt payment obligations until 2027. During this period, the federal government, specifically through the Ministry of Finance (Hacienda), will take charge of these amortizations. This will be accomplished through an investment vehicle established by the National Development Bank (Banobras) and the National Financial System Institute (Nacional Financiera).
The federal government has allocated up to 250,000 million pesos (approximately 13.2 billion USD) for these amortizations. This amount represents around 13% of Pemex’s total debt, which stood at 97.6 billion USD at the end of 2024.
Key Figures and Projections
- Amortizations to be paid in 2025 amount to 15 billion USD.
- The federal government aims to reduce the total debt to 88.8 billion USD by the end of 2025.
- By 2030, the total debt is projected to reach 77.3 billion USD.
Involvement of Key Figures
During a morning press conference at the National Palace, Secretary of Finance Édgar Amador announced the debt amortization plan. Also present were Energy Secretary Luz Elena González, Pemex CEO Víctor Rodríguez Padilla, and President Claudia Sheinbaum. They discussed the upcoming presentation of Pemex’s 2025-2035 Plan at the Energy Secretariat, which will provide further details on mixed contracts that Pemex intends to sign with private investors.
Key Questions and Answers
- What is Pemex’s debt situation? Pemex’s total debt was 97.6 billion USD at the end of 2024, and the federal government has allocated resources to help Pemex meet its debt obligations until 2027.
- Who is responsible for managing Pemex’s debt? The federal government, specifically through the Ministry of Finance (Hacienda), will take charge of Pemex’s debt amortizations until 2027.
- How much will the federal government invest in Pemex’s debt amortizations? The federal government has allocated up to 250,000 million pesos (approximately 13.2 billion USD) for these amortizations.
- What are the projected debt figures for Pemex? The federal government aims to reduce Pemex’s total debt to 88.8 billion USD by the end of 2025 and project it to reach 77.3 billion USD by 2030.
- Who were the key figures present during the press conference? Secretary of Finance Édgar Amador, Energy Secretary Luz Elena González, Pemex CEO Víctor Rodríguez Padilla, and President Claudia Sheinbaum attended the press conference to discuss Pemex’s 2025-2035 Plan.
