Overview
- Pemex’s December 15 6-K reports modified agreements covering 29,236 million pesos of 2025 supplier balances, payable quarterly with principal and interest over up to eight years.
- Total debt stood at 1.8435 trillion pesos as of September 30, 2025, with 51.9%—about 957.4 billion pesos—coming due between 2026 and 2028.
- Finance Ministry data cited by Mexico Evalúa indicates transfers to Pemex reached about 392 billion pesos in January–November 2025, lifting actual spending above plan and weighing on fiscal consolidation.
- Reporting highlights unpaid subcontractors and procurement irregularities, alongside a Banobras vehicle that had cleared roughly 70 billion pesos and targeted 100–110 billion more by late 2025.
- Pemex states its ability to meet obligations depends on operating cash flow, federal capital injections, available credit lines and refinancing.