Mexico to cut support for Pemex debt payments by 70% in 2027

According to information published by the daily El Financiero, the Mexican government plans to drastically reduce the financial support earmarked for Petróleos Mexicanos (Pemex) for 2027. The budget proposal provides for a 70% cut in the resources allocated so that the state-owned oil company can meet its debt payment obligations, a scenario that points to greater pressure on the company ahead of its upcoming maturities.

Figures from the budget project, revealed by El Financiero, indicate that the federal administration allocated $14 billion to Pemex during fiscal 2026. For 2027, however, the projected amount for this item falls to $4.8 billion. The adjustment is part of the Economic Package presented to the Chamber of Deputies by Finance Minister Édgar Amador Zamora, according to a report by the state-run channel Telesur.

For its part, the outlet Bloomberg Línea reported that the Secretariat of Finance and Public Credit proposed an 8% budget cut for the Federal Electricity Commission (CFE), in addition to the adjustment for Pemex in 2027. However, the same source noted that the federal government plans to offset these budget reductions for the state energy companies through direct transfers, seeking to mitigate the immediate impact on their operations and financial commitments.

This reconfiguration of state support flows forces Pemex to optimize its financial management in a highly demanding environment. The reduction in direct assistance will require close monitoring of the reaction of credit rating agencies and credit markets, which constantly assess the Mexican government's backing of its strategic entities.