The financial situation of Pemex is presented as a crucial challenge that may indirectly impact the revenue of the federal government of Mexico. Lower investments in exploration and production could decrease oil revenues, which in turn could affect economic activity in regions such as Tabasco, Campeche, and Veracruz. The company's debt with suppliers continues to rise, requiring prompt government intervention for resolution.
Pemex's financial results for 2024 reflected a loss of 30.6 billion dollars, representing 1.8% of GDP, including interest payments, asset depreciation, capital amortizations, and taxes, as well as losses in financial operations. Mostly, these losses come from the Pemex Industrial Transformation Division (PTRI), which recorded net losses of 28.9 billion dollars, questioning its financial viability despite federal government support.
Pemex's current financial strategy is based on financial discipline to support the company. However, the reduction of key investments could have negative repercussions on oil production and public finances in the medium term. The Pemex Exploration and Production Division (PEP) can generate profits and contribute to public revenues, although the pressure from its debt and liabilities with suppliers remains a challenge.
The company faces a dilemma between maintaining high investments in its less efficient segments for political reasons or adopting more effective measures from an economic perspective. The expectation that Pemex will generate a financial surplus is ambitious and is expected to meet the fiscal goals of the country, which could imply adjustments in its operational structure.
The challenge of Pemex is structural and manifests in the disparity between its divisions and its dependence on external factors, such as the volatility of oil derivative prices. The company requires a strategic approach to improve its operational efficiency and ensure its long-term profitability while maintaining sustainable investment that supports its production and financial stability.
