Reported about 15 hours ago
Halliburton has reported that declining oil production rates in Mexico, coupled with significant payment delays from Pemex, are putting pressure on the reactivation of business activities. As Pemex's crude output dropped by 8.4% in May, service companies like Halliburton have reduced operations due to unpaid debts totaling around $20 billion. The situation has led the Mexican Association of Oil Services to warn that many firms may cease operations, emphasizing the need for Pemex to address its financial issues to support the sector's recovery.
Source: YAHOO