Colossal challenges: the complex rescue of Pemex under the administration of Claudia Sheinbaum

The government of Claudia Sheinbaum faces a colossal challenge in receiving a struggling Pemex, marked by high levels of debt, a low credit rating, and diminished production. The complex rescue of the state-owned oil company is presented as a daunting and vitally important task for the country's financial stability. The concern in the offices of the Ministry of Finance is palpable, as Pemex's debt remains a significant burden. Despite a marginal reduction in debt, which decreased from 105,792 million dollars to 101,499 million by the first quarter of this year, the company continues to face substantial financial challenges. The deterioration of oil production and the decrease in resources from the Ministry of Finance pose a complicated scenario for Pemex's future. The almost total dependence of the company on the Ministry of Finance becomes an additional concern, especially in light of the projected lower oil revenues for the next year. Pemex's speculative credit rating and high interest rates represent significant obstacles to the company's recovery. The lack of leeway to implement financial support measures, coupled with the need to cover debt repayments, presents a challenging outlook for the new administration. The government's obradorista strategy has not yielded the expected results, with oil production in constant decline and a series of financial supports that have not been able to sustainably boost Pemex's operations. The postponement of a tax reform has limited the income generation capacity and exacerbated pressure on public finances. The reduction of oil revenues as a percentage of GDP reflects Pemex's excessive dependence in the national economic context. The decrease in the tax burden on the company has entailed a significant sacrifice for the government coffers, without translating into a substantial improvement in the company's profitability. The need for a pragmatic approach focused on recovering Pemex's productivity becomes imperative in this scenario. The appointment of a CEO with experience in the energy sector and a strategic vision is seen as a crucial step to steer the company towards financial and operational stability. The rescue of Pemex will require not only financial support measures but also efficient and transparent management to maximize the company's long-term profitability. Diversifying income sources and promoting business opportunities are key elements to drive the recovery of the state-owned oil company. The uncertainty in financial markets and the need to refinance liabilities at more favorable interest rates pose additional challenges for Pemex. The company's ability to ensure its financial viability in a changing economic environment will largely depend on the effectiveness of the measures implemented by Sheinbaum's government. Amid a complex and demanding landscape, the direction of Pemex in the next six-year term will play a fundamental role in the company's rescue process. Seeking growth opportunities and creating value will be crucial aspects to ensure the sustainability and competitiveness of the company in the national and international energy market.