{"id":64011,"date":"2025-12-03T23:09:06","date_gmt":"2025-12-03T23:09:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/pemexs-call-for-partners-meets-reluctance-as-debt-concerns-loom\/"},"modified":"2025-12-03T23:09:06","modified_gmt":"2025-12-03T23:09:06","slug":"pemexs-call-for-partners-meets-reluctance-as-debt-concerns-loom","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/pemexs-call-for-partners-meets-reluctance-as-debt-concerns-loom\/","title":{"rendered":"Pemex\u2019s call for partners meets reluctance as debt concerns loom"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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More than a month has passed since Pemex CEO Victor Rodriguez invited national and foreign enterprises to join Mexico\u2019s state-owned oil company in restarting production.<\/p>\n

At an energy event in Mexico City on October 23, Rodriguez made a direct appeal: Pemex was \u201copen,\u201d he remarked, encouraging corporations to submit bids.<\/p>\n

However, the call has mostly gone unanswered. Industry leaders have shown little enthusiasm for participating<\/a> in projects aimed at helping Pemex recover from its decreasing output. <\/p>\n

The lack of cooperation underscores a larger issue that has long plagued potential partners: Pemex\u2019s massive indebtedness and strict partnership criteria.<\/p>\n

Debt burden undermines confidence<\/h2>\n


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Pemex\u2019s financial difficulties are generally acknowledged throughout the sector. The business, the world\u2019s most indebted oil producer, reported in September that it owed $28 billion to numerous suppliers. <\/p>\n

Companies such as Eni, SLB, and Baker Hughes were identified as unpaid creditors earlier this year. <\/p>\n

Mexican enterprises, including Grupo Carso and Hokchi, the country\u2019s second-largest private oil producer, have also claimed Pemex owes them money.<\/p>\n

The accumulation of outstanding invoices is lowering interest. Four industry insiders said foreign oil corporations are growing concerned that Pemex will not pay them on time. <\/p>\n

Their fears jeopardise the company\u2019s goal of increasing production to 1.7 million barrels per day. <\/p>\n

One senior official from an international oil business in Mexico expressed worries about Pemex\u2019s ability to meet its pledges, saying that paying suppliers \u201cremains an issue.\u201d<\/p>\n

Pemex has made some payments: Rodriguez told Congress in October that the firm has paid more than $16.3 billion since President Claudia Sheinbaum took office in October 2024. <\/p>\n

Still, it is unclear how much the company still owes, which has done little to alleviate potential partners\u2019 concerns.<\/p>\n

A crucial test for Mexico\u2019s energy policy<\/h2>\n


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The need to attract partners is becoming more pressing due\u2002to Pemex\u2019s shrinking production over the past two decades. The stakes for Mexico are high, given that the government relies on tax receipts from Pemex.<\/p>\n

The quest to win collaboration agreements is also a significant test of Sheinbaum\u2019s overall vision for Mexico\u2019s energy sector. <\/p>\n

Her Morena party has essentially reversed the broad changes enacted in 2013 by previous President Enrique Pe\u00f1a Nieto, which opened the sector to international investment.<\/p>\n

Pemex is now seeking to sell the belief for investors to participate in 21 new joint contracts covering shallow water,\u2002deepwater and onshore fields. <\/p>\n

The\u2002company said such projects may one day provide 450,000 barrels per day of crude, about a quarter of what it is expected to deliver in 2033. <\/p>\n

However, all contracts must reserve for Pemex at least 40% of equity, a requirement which is turning\u2002out to be a considerable obstacle, according to industry watchers.<\/p>\n

Unattractive terms and lingering doubts<\/h2>\n


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Pemex\u2019s most recent 10-year strategic plan underlined the importance of joint venture contracts in improving output. <\/p>\n

Major projects such as Kayab-Pit-Utsil, Nobilis-Maximino, and Exploratus were projected to make significant contributions.<\/p>\n

Angel Cid, the head of Pemex\u2019s exploration and production business, stated in late October that 40 companies had shown an interest in bidding. <\/p>\n

No further information was offered, and industry sources questioned how many of these companies would proceed given the constraints.<\/p>\n

According to a senior government official, some projects may fail to recruit partners due to the legal constraints, particularly Pemex\u2019s requirement to keep at least a 40% ownership.<\/p>\n

Executives who attended the October gathering with Rodriguez agreed that Pemex\u2019s inability to pay suppliers remains a big concern. <\/p>\n

Rafael Espino, director of the oil services association Amespac, stated that when supply contracts are not met, productivity falls. He added that, despite recent advances, it is still unclear how past debt will be handled.<\/p>\n

Waiting for concessions<\/h2>\n


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According to three industry sources, corporations are watching attentively to see if Pemex will change its contract model to attract private investment. Uncertainty reigns supreme for the time being.<\/p>\n

As one insider stated, \u201cIt remains to be seen what will happen.\u201d<\/p>\n<\/p><\/div>\n

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(Originally posted on : Invezz ) More than a month has passed since Pemex CEO Victor Rodriguez invited national and foreign enterprises to join Mexico\u2019s state-owned oil company in restarting production. At an energy event in Mexico City on October 23, Rodriguez made a direct appeal: Pemex was \u201copen,\u201d he remarked, encouraging corporations to submit […]<\/p>\n","protected":false},"author":3947362380,"featured_media":64012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64011"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362380"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=64011"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/64012"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=64011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=64011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=64011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}