In an exclusive interview held last week to discuss the situation at Pemex, he said that this amount will be used to pay off its debt, as well as the financing needs it requires in general to operate.
“Currently, we have Pemex’s rating at B3 with a negative outlook, and from a credit standpoint, we believe that Pemex faces various challenges such as paying off its debt in the coming years and the losses it has been recording. “According to our projections, we expect that by 2026 the support that the company will need will be around US$1.9 trillion (19 billion dollars),” said Muñoz.
He warned that if there is no change in the management and operation of the oil company, which would lead to a failure to meet its commitments to investors, Pemex’s rating could fall even further.
While the next administration is still reporting on what it will do in this regard, he said, the negative outlook remains. “The main challenges facing the oil company are the size of the debt, the amortizations that are very important in 2026 and 2027, the increase in pension payments and the loss record in the refinery business,” he added. He said that they hope that the economic support that the Government provides to the oil company will continue. “At least for 2025 the support will continue (…) the average support that this Administration has given to Pemex, including the refinery, the transfers, everything that has been given, on average has represented 9.4 billion dollars a year. “Although we hope that the next Administration will continue to give support, what worries us is that this will double by 2026 and 2027, and the most important question is how this support is seen given that the rigidity on the spending side has also increased for the federal Government,” she said during the conversation. The analyst said that another relevant issue will be to see what business plans will be sought in the next six-year term; although so far what has been said by the President-elect, Claudia Sheinbaum, is that the strategy of energy sovereignty in fuels will continue, so the refineries will be maintained. To that we must add the moment when Dos Bocas already begins to operate and the volumes of oil exports that will be carried out in the coming years increase.
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