The talks come after Pemex CEO Octavio Romero said in December that the government of President Andrés Manuel López Obrador could resume its practice of paying the company’s debt repayments in early 2023.
Mexico’s finance ministry declined to comment. Pemex did not immediately respond to a request for comment.
Pemex is the world’s most indebted oil company, with financial obligations of $105 billion as of September 2022. It is under enormous financial pressure as the Mexican government wants it to halt oil exports and invest in loss-making refineries. — all this while the company continues to fail to stop a reduction in production in the long term.
It reported a net loss of 52 billion pesos (2.67 billion dollars) in the third quarter of last year, while US competitors Exxon Mobil Corp. and Chevron Corp. posted a combined profit of more than 30 billion dollars amid a rebound in prices. international oil prices.
The Mexican oil company has 188,000 million dollars in amortizations that expire in 2023 and must maintain zero net debt in real terms, it said in its annual financing plan. Debt refinancing could include, but is not limited to, bank loans, bond issues, direct financing, or financing guaranteed by export credit agencies.