COPARMEX Warns PEMEX Debt Threatens Business Stability

Mexico’s Employers Confederation of Mexico (COPARMEX) has raised concerns about the growing debt that PEMEX has with its suppliers, warning that the situation poses a risk to both business and social stability across Mexico.

According to COPARMEX, although PEMEX has reduced its supplier debt by 20% as of March 31, bringing the total to MX$404 billion (US$21.697 billion), the amount remains unsustainable for thousands of affected companies. Most of the impacted firms are SMEs, which now face serious financial difficulties because of delayed payments.

The business group acknowledged that PEMEX has paid MX$147 billion to suppliers in 2025, as confirmed by President Claudia Sheinbaum. COPARMEX also recognized that coordination efforts are underway with the Ministry of Finance to settle remaining obligations. However, it warned that until the debt is fully resolved, many companies remain at risk of downsizing, halting operations, or closing permanently.

COPARMEX noted that PEMEX's financial strain is tied to legacy issues, including cost overruns, non-transparent contracts, and poor financial practices carried over from previous administrations. The company’s total financial debt exceeded MX$2 trillion by the end of 2024, growing 3.8% year over year.

The confederation emphasized that Mexican law allows for the renegotiation or cancellation of unfavorable contracts inherited from prior administrations. It urged PEMEX and the federal government to make use of such mechanisms to ease current pressures on suppliers.

According to COPARMEX, delayed payments have already forced many companies to lay off staff, suspend projects, or forfeit assets to meet fiscal and legal obligations. In some cases, business owners have lost personal property after failing to absorb the financial impact of unpaid invoices.

The effects are concentrated in key energy hubs such as Ciudad del Carmen, Tapachula, Hidalgo, Irapuato, Tamaulipas, Oaxaca, Reynosa, Tabasco, Tampico, and Veracruz. In these regions, many suppliers have reported facing operational paralysis, impacting not only business owners but entire communities.

PEMEX’s revenue from sales and services declined 2.5% year-on-year to MX$395.6 million, while crude oil production fell by 11.3%. Natural gas output also dropped, averaging 5.5Bcf/d, representing an 8.7% decrease.

COPARMEX has also reported complaints of irregular practices and undue pressure within PEMEX related to the release of pending payments. The group called for transparency and legal safeguards to prevent suppliers from being forced into unofficial processes to secure payments.

The organization urged PEMEX to publish a verifiable and public payment schedule, to ensure transparent communication with affected firms, and to reinforce operational and financial restructuring to improve long-term performance.

COPARMEX concluded that while Mexico needs a strong national oil company, that strength should not come at the expense of the business ecosystem that has historically supported its technical, logistical, and operational functions.