Reported 11 days ago
Mexico plans to allocate approximately $6 billion in its 2025 draft budget to support state-owned oil company Pemex, reflecting ongoing government backing for the troubled corporation. This comes as Pemex faces significant debt obligations, including $9 billion due next year and $13 billion due in 2026. The government also aims to simplify Pemex's tax structure to improve its financial health. President Claudia Sheinbaum has committed to maintaining prior support policies, easing investor concerns over Pemex's substantial $97.3 billion debt load.
Source: YAHOO