September 25, 2025 [Reuters]- Mexican state oil firm Pemex’s financial debt should end the third quarter at around $80 billion, Finance Minister Edgar Amador said on Wednesday.

Pemex is one of the world’s most heavily indebted energy companies, with nearly $100 billion in financial debt and some $22 billion owed to suppliers and contractors.

In August, the government rolled out a sweeping plan to end its handouts for the company by 2027.

The oil producer is slated to receive some 263.5 billion pesos ($14.30 billion) from the government in 2026 to help the firm meet its debt and loan payments, according the government’s budget plan.

Mexico is set to raise around $14 billion through two fresh bond issues, launched earlier this month to go toward Pemex, with the majority of the funds paying for a sweeping Pemex bond buyback.