PEMEX Seeks to Reaffirm Its Commitment With Suppliers

PEMEX CEO Octavio Romero is meeting with representatives from over 250 companies in Villahermosa and Ciudad del Carmen this week to reaffirm the company's commitment to timely payments and discuss operational achievements and future development plans.

PEMEX reports that since the beginning of the year, it has increased its monthly payments to suppliers, ranging from MX$39 billion to MX$70 billion. Romero emphasized that these payments are critical for maintaining the company's operational goals and supporting its suppliers' businesses. He stressed that PEMEX's business success depends on fulfilling its financial commitments to contractors.

The first meeting took place on May 21 in Villahermosa, Tabasco, followed by a session in Ciudad del Carmen, Campeche. These locations are pivotal in the national oil industry and home to many sector-related companies.

During these meetings, Romero highlighted that PEMEX paid approximately MX$39 billion in 1Q24. In April, payments increased to around MX$50 billion, and for May, PEMEX is expected to pay around MX$70 billion to suppliers. Romero assured that pending payments would be regularized from May to August.

"PEMEX's business is not about holding back contractors' money but achieving its goals, which can only be met by fulfilling commitments," said Romero. He called on the business community to support PEMEX in strengthening the company and achieving energy sovereignty for the country.

The meetings included discussions with suppliers of exploration, engineering, drilling, production, environmental protection, safety, transportation, and hydrocarbon commercialization services. Romero also reviewed the operational achievements of these service providers.