Mexico oil firm Pemex's debt with suppliers rises 17.3% in March

Mexican state oil producer Pemex's debt with suppliers rose 17.3% month-on-month in March to 163.2 billion pesos ($9.53 billion), the company said in a report on Monday. Pemex owes providers 162.9 billion pesos from this year and last, with projects and materials pending invoice at the end of March for another 326 million pesos.

Mexican state oil producer Pemex's debt with suppliers rose 17.3% month-on-month in March to 163.2 billion pesos ($9.53 billion), the company said in a report on Monday.

Pemex owes providers 162.9 billion pesos from this year and last, with projects and materials pending invoice at the end of March for another 326 million pesos. The company, which owes an additional $106.1 billion in financial debts, made payments worth 505.9 billion pesos in 2023 and 2024.

The report excludes debt stemming from disputes or taxes, and projects in conciliation proceedings with creditors. For months, the energy company has faced serious difficulties paying suppliers, contractors and oil operators, who have warned that a lack of compliance could lead to production drops and threaten private companies.

Pemex's supplier debt reported on Monday is significantly below the 359.8 billion pesos at end-2023, its highest level in recent years. In February, Pemex said it would seek to accelerate payments to meet those liabilities. 

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