Despite the “oxygen” provided by the federal government, Pemex’s debt with its suppliers increased 37% annually to $28.13 billion at the end of September.
In its third quarter financial report, the company stated that the capitalization and financing strategy includes the settlement of liabilities with suppliers.
He stated that a constant flow was maintained in payments to suppliers, and the 2025 Investment Financing Program was launched, supported by a financial vehicle with a capacity of up to 250,000 million pesos, aimed at strengthening the supply chain and improving operational efficiency.
On the other hand, Pemex’s debt also increased, since it had an increase of 2.7% to 100.3 billion dollars as of September 30 “derived from a repo operation to meet short-term maturities.”
Read: Pemex loses 3,344 million dollars in the third quarter of 2025
On the other hand, the Reuters agency reported that Pemex pumped less crude oil while increasing its processing in the third quarter.
Pemex and its partners pumped an average of 1.66 million barrels per day of crude oil and condensate during the third quarter of this year, 6.7% less than in the same period in 2024.
With many fields in rapid decline – especially former star producers in the Gulf of Mexico – and many new discoveries failing to live up to expectations, Pemex has struggled to meet the government’s ambitious production goal of 1.8 million bpd.
Meanwhile, Pemex processed an average of 1.01 million bpd in the quarter, 4.8% more than in the same quarter of the previous year.
CEO Víctor Rodríguez told investors on a call that the company’s current plan seeks to increase production with the help of private companies, adding that about 40 companies had expressed interest.
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Pemex reported that it has selected 10 projects of this type and that it is evaluating another 11 for these so-called mixed contracts.
Much of what the company can realistically do – extract more barrels from mature fields and explore new possibilities – depends on financial resources.
Pemex reduces losses
Pemex reported a net loss of 61.25 billion pesos ($3.34 billion) for the quarter, from a loss of 161.34 billion pesos a year ago, while revenue in the quarter fell about 11% from a year earlier to reach 378.9 billion pesos.
With information from Francisco Rivera
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