Pemex in the red.
Pemex, Mexico’s state-run oil company, is still in debt to Tidewater to the tune of $26m.
Petroleos Mexicanos or Pemex, Mexico’s state-run oil company, owes $26m to Houston-based offshore giant, Tidewater. Tidewater is previously reported as saying that Pemex owed them $18m.
“Their payment patterns have improved in 2021,” said financial chief Samuel Rubio, who called the oil company a “good customer”.
“We still have some work to do with Pemex, but these collections play a big role in achieving our free cash flow goals. Our dialogue with them is open and constant.”
Rubio added that Pemex had made a $7m payment in the first quarter and had made a $9m payment “just a few days ago”. He said he was confident the company would pay the entire balance soon.
