Mexico Expects State Oil Giant Pemex to Pay Its Debt Without Help
- Company expected to pay debt unless facing credit crunch
- As production falls, oil firm asked to halt exports and invest
Pemex headquarters in Mexico City.
Photographer: Susana Gonzalez/BloombergThis article is for subscribers only.
Mexico’s Finance Ministry expects Petroleos Mexicanos to pay debt coming due in the first quarter without government help, according to people with knowledge of the situation.
After providing the oil company with financial support in recent years, the Finance Ministry now wants Pemex to foot the bill itself unless it doesn’t have enough cash to do so by the end of the quarter, one of the people said. They all asked for anonymity because the discussions between Pemex and the government aren’t public and the situation could change.