Mexico's oil and gas upstream activity likely to slow as country votes for new president hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
By Adriana Barrera (Reuters) - Mexican state energy company Pemex's mounting debt with oil service providers as well as private crude and gas producer.
Pemex's failure to pay debts threatens suppliers' survival, industry warns streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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Mexican state energy company Pemex's mounting debt with oil service providers as well as private crude and gas producers threatens production, investment and in some cases even the survival of suppliers, industry groups warned. In addition to financial debt of more than $105 billion, the company disclosed that at the end of September it owed local and foreign companies about 297 billion pesos ($17.22 billion). Private oil operators' industry group Amexhi warned this week in a letter to the government, seen by Reuters, that Pemex's reluctance to pay threatens not only production but also projects already underway and some companies' very existence.