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Pemex (a portmanteau of petróleos mexicanos, which translates to mexican petroleum in english Mexico allocates 263.5 billion pesos to pemex in 2026, raising its budget to 517.4 billion pesos as it tackles debt and falling output. Pemex is the largest company in mexico

Pemex failed to communicate during toxic leak, authorities say

The mexican government turned to international debt markets for the second time this week to prop up flagging state oil producer pemex, launching $8 billion in bonds on tuesday. Moody’s ratings gave petroleos mexicanos sa a double upgrade after the mexican government moved to reduce the driller’s massive debt load and address operational challenges. Pemex has been the world’s most indebted oil company for several years

Its debt is over $100bn, equivalent to 8% of mexico’s gdp.

It is one of the largest petroleum companies in the. Pemex is an integrated group engaged in oil and gas exploration, production, refining and transport, as well as petrochemicals It is fully owned by the mexican government.