U.S. Administration Claims Pemex Owes $2.5 Billion to American Energy Suppliers

Mexico City — The Trump administration has accused Mexico’s state oil company Pemex of owing more than $2.5 billion to U.S. energy service providers, calling the situation “unprecedented.”

The Office of the U.S. Trade Representative raised the issue in its 2026 National Trade Estimate Report on Foreign Trade Barriers, an annual document covering obstacles to American commerce in over 60 countries.

“Over the past two years, U.S. companies supplying Mexico’s oil and gas sector have reported an unprecedented challenge in receiving payment from Pemex for services rendered,” the report stated.

“As of December 31, 2025, while some U.S. companies have received full or partial payment, others continue to report overdue payments totaling more than $2.5 billion.”

In February, Pemex acknowledged debts to its suppliers of $24.182 billion in its fourth-quarter 2025 balance sheet, representing a 14% reduction from the $28.130 billion reported a year earlier. The debt to U.S. companies now accounts for 10% of that total.

Since mid-2025, the Energy Workforce and Technology Council, representing more than 250 U.S. energy service companies, has sent letters to President Claudia Sheinbaum requesting a solution to the payment delays. Council members that have provided services to Pemex include drilling giant SLB (formerly Schlumberger) and energy technology firm Baker Hughes, both of which Pemex has acknowledged as creditors in 2025 reports.

U.S. firms of various sizes have been affected by the delays in 2024 and 2025, along with Mexican suppliers, despite new strategies implemented by the Sheinbaum administration in 2025 that allowed some outstanding payments to be settled.

The Trump administration’s complaint comes as both countries begin talks to review the USMCA trade agreement. Experts warned that the energy sector will present another obstacle in renegotiating the pact, due to legal changes made by the Mexican government to strengthen Pemex and the Federal Electricity Commission (CFE).