PEMEX Regularizes Payments, Including Debts From 2024

PEMEX has started to regularize its payments to suppliers in the southern region of Veracruz, settling not only current obligations from 2025 but also addressing debts that were accumulated in 2024, reported Diario del Istmo. The development brings cautious optimism to a supplier community that has struggled with delayed payments and liquidity challenges for more than a year. Iván Ordaz, President, CMIC Veracruz-Sur Delegation, said that PEMEX has fulfilled its monthly payments to regional contractors and suppliers. Ordaz noted that payments have been made not only for services and goods rendered in 2025 but also toward obligations dating back to 2024.

From late 2023 and throughout much of 2024, at least 25 contractor and supplier companies in the southern Veracruz area were owed approximately MX$1.5 billion, (US$83.877 million) with delays prompting significant concern among local businesses. These delays intensified after a pause in payments during the transition between federal administrations at the end of 2024, underscoring longstanding financial strains within the NOC.

Ordaz explained that payments were initially suspended after the change in government, then resumed intermittently in early 2025. Payments continued on a more regular basis after August 2025, following the announcement of a financial plan designed to address PEMEX’s broader liabilities and improve its cash-flow position.

While supplier debts remain significant, the recent actions reflect a broader effort by PEMEX and supporting agencies to reduce overdue liabilities. Part of this effort has involved cooperation with development banking institutions such as Banobras, which has been tasked with managing portions of the petroleum company’s indebtedness to suppliers, particularly for PEMEX’s E&P. Ordaz noted that Banobras has begun issuing payments for work from both 2024 and 2025 that had been formally recognized by the company.

Despite the progress, Ordaz stressed that the process is not yet complete. Although most recognized supplier accounts are now receiving scheduled payments, some debts remain outstanding, and contractors are still awaiting full settlement of their accounts. In some cases, payments are being issued through COPADES, a PEMEX electronic payment and receivables system, which improves tracking and formal acknowledgment of obligations. 

The regularization of payments represents a small but meaningful shift for suppliers after a period of extended uncertainty. At its peak, PEMEX’s debt to suppliers and contractors had risen sharply, with the company acknowledging obligations in the hundreds of billions of pesos across multiple reporting periods. Industry data reported a supplier debt of more than MX$404 billion in early 2025, highlighting the scale of the financial backlog facing the company and its partners in the oil services sector.

The delay in payments has had ripple effects throughout the energy supply chain. Many small and medium-sized enterprises rely heavily on timely payments to maintain operations, pay workers and invest in equipment. Prolonged delays have led some firms to express concern about their solvency and capacity to continue serving PEMEX’s extensive contracting network. Independent industry groups have repeatedly called for greater transparency and predictability in payment mechanisms, linking them to broader debates about PEMEX’s financial strategy and liquidity.

For its part, PEMEX has publicly committed to addressing its supplier debts as part of a comprehensive financial plan designed to stabilize the company’s balance sheet and improve operational continuity. In late 2025, the company’s leadership outlined plans to accelerate payments of past-due accounts and align its payment practices with financial obligations while balancing investment needs and ongoing operational costs. However, industry observers note that the pace of payment and the recognition of previously unregistered liabilities will be key indicators of how effective these measures are in restoring confidence among contractor and supplier communities.