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Pemex’s Dollar Bonds Tick Higher After $14.4bn Allocation by Mexico in 2026 Budget
September 10, 2025
The Mexican government has approved a significant financial package for Pemex to continue its support for the state-oil company. The 2026 budget allocates MXN 263.5bn ($14.1bn) to Pemex to manage its liabilities. This new funding follows other strategic financial moves by Pemex, that included Mexico’s $12bn P-Cap issuance for the company in July, and Pemex’s recent buyback offer for up to $10bn to reduce its large debt load. Despite these efforts, analysts remain cautious about the company’s long-term stability. While Mexico forecasts oil output by Pemex to reach 1.8mn bpd in 2026, the company’s operational problems continue to persist. Nevertheless, analysts cite the financial support as being a crucial step for Pemex’s short-term viability.
Pemex’s dollar bonds ticked higher with its 9.5% 2027s up 1.1 points to 108.7, yielding 4.9%.
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