Energy
Mexico Plans to Include $6 Billion in Budget for Pemex Debt
- Budget to cover part of debt due in 2025 amid ongoing support
- Pemex last year had received about $8 billion in the budget
Pemex freight cars outside the Francisco I. Madero oil refinery in Ciudad Madero, Tamaulipas state, Mexico, on Tuesday, July 9, 2024.
Photographer: Mauricio Palos/BloombergThis article is for subscribers only.
Mexico plans to set aside about $6 billion for state oil company Petroleos Mexicanos in its 2025 draft budget, people familiar with the matter said, as the government signals continued support for the indebted oil producer.
The budget will include support for Pemex’s debt obligations next year, said the people, who asked not to be identified revealing details of the proposal that’s scheduled to be released on Nov. 15. The company has around $9 billion in debt coming due next year and roughly $13 billion in 2026, when maturities will peak.