The more than 50 thousand companies working around the oil industry are beginning to feel the lack of liquidity for the late payment of Petroleos Mexicanos (Pemex), to date it is calculated to be $3.4bn USD over 51 billion pesos.

The President of the Mexican Association of the industry of petroleum (Amipe), Erik Legorreta, He said that they are deeply concerned because already perceived a very complicated situation, because Pemex shows signs of deficiency in its budget for investment and operation.

Pemex were consulted about the situation with the suppliers, and acknowledged that there have been delays, but that is already working to regularize them.

According to data from the Amipe, PEMEX 1 billion pesos in debts of previous fiscal years (Adefas); i.e., It is a budget that is going to consume this year and that should go pay over time.

Legorreta said that initially the late payments were only 30 days, but as the months pass have been increasing, no longer is said to the extent that in some cases when they are going to liquidate. "We estimate that Pemex has, for example in what is exploration and production, about 34 1 billion pesos of debts to suppliers, and in refining what is around 17 one billion pesos".

Not give a prompt solution, many companies would begin to close, and in some cases already thinking of cuts of between 10 and 20 percent in the workforce.

If the situation is not resolved within the next two or three months, There may be some 5 thousand redundancies in the sector and one 6 thousand people who would hire for new jobs.

"There is a lack of definition as to whether will be liquidating their payments", What we know is that nothing more is the part of the suppliers, but that all Pemex has a lack of important liquidity, even in its operational budget", said. He said that you know that the subsidiary Pemex refining, PEMEX Petroquímica, and Pemex Gas and basic petrochemicals have a need for investment by the rest of the year, between budget operation and investment of around of 85 billion pesos. also, for the remainder of 2015 both budgets left 18 billion pesos, 14 1 billion in investment and 4 billion in operation.

"Yes, It is a situation that worries us very much, by the amounts that we are talking about, and especially because there were a renegotiation with many of the contractors'.

At the beginning of year, with the budget cuts of 62 billion pesos, PEMEX requested a renegotiation of contracts; in some cases discounts that were requested from 3 and 15 por ciento, and there was also a services or products fit that would request; por ejemplo, If he was going to hire two terminals, nothing else already asked one.

"Pemex has a new system of financing and capitalization of the energy reform, that I do not know because you are not using it, in fact the uncertainty that we have is that many companies, above all mutual funds, they have approached her to offer financing in their projects, but does not define them". Legorreta said that it is not time to stop investing in the sector, so while is now open to private initiative, PEMEX remains the predominant player and if you want to raise production is needed to get capital. With Millennium information -

Source: - Oro Negro -