Overview
- Director Víctor Rodríguez said financial debt will close 2025 near $85 billion, down from roughly $98.8 billion reported midyear.
- He said arrears to suppliers have been cut by half, with nearly 300 billion pesos paid through September using a government-backed vehicle of up to 250 billion pesos.
- The financing mechanism executed a pilot payment of about 26 billion pesos and plans a 116 billion peso disbursement in December, with payments to be current in 2026.
- Pemex has conducted a $12 billion bond buyback; 2026 brings about $20 billion in maturities and external year-end debt estimates range from $80 billion (SHCP) to $99.9 billion (Moody’s).
- A federal audit reported 156.5 billion pesos in transfers to Pemex in 2024, and the 2026 budget proposes 263.5 billion pesos to support debt amortizations.