Affirming that Pemex is bankrupt is an arithmetic reality. Its assets are greater than its liabilities and it throws losses. If the government gave away PEMEX, few would dare to receive that state monopoly with its current financial situation.
What you owe, passive, is greater than the value of your facilities.
By 2022, PEMEX assets totaled 96.7 billion dollars. Its liabilities or debt, the highest of all the oil companies in the world, 108,436 million, a value higher than that of all its facilities.
In the previous administration and four of the current one, its results reflect losses. In 2018 they were 148,633 million pesos, in 2021 they reached 244,363, 69.4% higher than in 2018.
PEMEX does not have to settle the interest payments on its debt. The government covers them with tax money.
Fuel theft, known as “huachicoleo” increased by 196.6% with the current government.
PEMEX does not satisfy the internal consumption of petroleum derivatives, it imports around 70% of the gasoline consumed in Mexico, 68% of the diesel and more than 70% of the gas (2022).
The oil trade balance is in deficit. From January to September 2022, PEMEX received 30.999 million dollars for exports of crude oil, but spent 59.139 million to import petroleum derivatives, diesel and gasoline, among others.
PEMEX is a burden, not a benefit to Mexico. Their ownership by the government does not guarantee national sovereignty. Every day we depend more on imports from the USA.
He requires government subsidies, taken from taxes, to complete his payroll and living expenses.
The US has not lost sovereignty because the oil companies are in the hands of individuals, which is a myth of the Mexican government. PEMEX government property is only good for looting by high officials, as they did in the past six-year term, for which they imprisoned its former director. We hope that corruption will not be repeated this six-year term, but the debt, losses and theft of gasoline continue to grow.
The solution is to sell or give away PEMEX, although leftists will tear their hair out for this logical recommendation.
#PEMEX #bankruptcy