Pemex’s debt to private providers continues to rise: Coparmex

Gulf of Mexico oil platform near Ciudad del Carmen, Campeche. PHOTO: PEMEX/CUARTOSCURO.COM

As of the second quarter of the year, Pemex registered a debt from suppliers of 150 billion pesos

MEXICO CITY.- The debt that Petróleos Mexicanos has with supplier companies continues to increase and the 150 billion pesos are not expected to be settled this year, said the Employers’ Confederation of the Mexican Republic (Coparmex).

The amount is 18% higher than the figure for the second quarter of 2019, an increase that is related to the lack of payments from the State oil company to its suppliers.

The chief economist of Coparmex, Mylene Cano de la Fuente, said: “It has transpired that Pemex has asked to pay its suppliers until 2021 and this delay will significantly harm all those companies.”

“In the second quarter of the year, Pemex registered a debt of 150 billion pesos to suppliers, we see that this is an amount 18% higher than the second quarter of the previous year. It has transpired that Pemex has asked its suppliers to pay until 2021, she explained.

The president of Coparmex, Gustavo de Hoyos, asked to regularize Pemex payments to companies because non-payment translates into a deterioration in the quality of life in the region.

“The call is for the State productive company to regularize the payment flow with the company’s suppliers in Campeche; there are many different lines of business and companies that are being affected by the non-payment by Pemex and this delay translates into the general deterioration of the region,” explained the Coparmex leader in a videoconference with businessmen from Campeche.