Pemex will no longer need Treasury support to pay its debt in 2027: Sheinbaum

MEXICO CITY (apro).- Edgar Amador Zamora, head of the Ministry of Finance and Public Credit (SHCP), reported this morning that the public company Petróleos Mexicanos (Pemex) will not require financial support starting in 2027 and will have to finance its own operating expenses. It is seeking to reduce its debt to $77.3 billion by 2030.

During Mexican President Claudia Sheinbaum's morning press conference, the Secretary of Finance presented the comprehensive capitalization and financing strategy for Pemex, which includes three key pillars:

• * Clear up your debt,
• * Capitalize your operation
• * Ensure financial self-sufficiency from 2027

Amador Zamora explained that one of the main current challenges is addressing the high debt maturities inherited from the neoliberal period.

Between 2008 and 2018, Pemex's debt grew 130%, from $43 billion to $105 billion. However, since 2018 and the estimated closing date of 2025, the balance has been reduced by 16%, and the goal is to reduce the debt by 26% by 2030 compared to the level received in 2019, Amador emphasized.