The uncertain future of Pemex in the hands of Claudia Sheinbaum: financial and structural challenges. Priority: rescuing the state-owned oil company.

The future of Petróleos Mexicanos (Pemex) under the administration of Claudia Sheinbaum is shrouded in a cloud of uncertainty and concern, according to financial experts and analysts consulted. The state-owned oil company faces numerous challenges, including high levels of debt, a low credit rating, and a continuous decline in oil production. This outlook poses a complex scenario for the upcoming administration, which will inherit a company with serious financial and structural difficulties. In the offices of the Ministry of Finance, led by Secretary Rogelio Ramírez de la O., concern is palpable. The rescue of Pemex has become an urgent and complicated task that will require solid strategies and sound decisions from the authorities. However, the results of recent years have been disappointing, and the strategy implemented so far has not succeeded in reversing the negative trend in the company's production. Mariana Campos, a specialist in public finances, highlights that the current situation of Pemex limits the options for the next administration compared to the beginning of López Obrador's government. The lack of sufficient income and the reduction in resources from the oil industry present a challenging scenario for the future of the company and public finances in general. The need for a fiscal reform is becoming increasingly evident to ensure the long-term viability of Pemex. Mexico's oil revenues have significantly decreased in recent years, representing only 3.3% of the Gross Domestic Product in 2023, the lowest level since 2020. This situation underscores the excessive dependence of the Mexican economy on oil and the urgency to diversify sources of income to ensure financial stability. Experts consulted emphasize the importance of promoting greater investment in the company and focusing on increasing its productivity to boost its recovery. Ramses Pech, an analyst in the energy industry, warns about the challenges that Pemex will face in seeking financing at favorable rates. The accumulated debt and the deteriorated financial situation of the company hinder its ability to obtain resources in the market at reasonable costs. Furthermore, the projection of lower oil revenues for the next year presents an even more complicated scenario for the oil company and for public finances in general. The drop in the price of the Mexican oil blend and the decrease in crude production pose an additional challenge for the incoming government, which will have to deal with a lower influx of resources from oil. This scenario will require seeking alternatives to offset the decrease in oil revenues, which could translate into the need to increase other taxes to maintain the country's financial stability. In this context, the appointment of a suitable leader to direct Pemex becomes crucial for the success of any rescue strategy. Miriam Grunstein, an energy expert, emphasizes the importance of having a profile with experience in the energy sector, capable of identifying business opportunities and creating value in the company. The need to focus on making Pemex more profitable rather than implementing indiscriminate cuts emerges as a priority to ensure its long-term viability. In conclusion, the future of Pemex and Mexico's public finances are challenged by a set of factors that require quick and effective decisions from the authorities. The upcoming administration will face the task of rescuing a company in crisis while seeking to ensure the economic stability of the country in a volatile and complex environment. The need to promote investment, diversify sources of income, and strengthen productivity is imperative to achieve a sustainable and successful recovery in the long term.