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Mexican state oil and gas company Pemex has to pay off half of its P1.89 trillion (US$110.5 billion) debt by June 30, 2027, according to competitive think tank IMCO.
On Pemex’s second-quarter earnings call, CEO Octavio Romero Oropeza and other executives said President Andrés Manuel Lopez Obrador’s administration will help the NOC pay down its debt. confirmed that it had remitted 64.9 billion pesos for
“Since 2019, the federal government is estimated to have provided a total of P1.32 trillion in aid to Pemex,” IMCO said, of which P908 billion equated to direct aid and P416 billion to “oil companies.” It’s equivalent to the resources that they calculated they had,” he added. Stopped payments to the state for shared public works rights. ”
Pemex faces short-term debt squeeze, having to pay out US$8.5 billion to debt holders without direct government support, and liquidity is tight.
IMCO also highlighted that Pemex had P231 billion in debt to contractors and service providers in the first half of this year, a nearly 424% increase compared to June 2011.
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