Agreement between PEMEX & the Mexican Association of Petroleum Companies

Source: 3/18/2021, Location: South America

Petroleos Mexicanos (PEMEX) and the Asociacion Mexicana de Empresas del Sector Petrolero AC (AMESPAC), since September 2020, have been working together to optimize payment and financing schemes for their suppliers, seeking to ensure the continuity of operations in the oil industry. national within a collaborative environment, with the ultimate purpose of achieving the goals of production, cost reduction, profitability and transparency of processes of said industry.

In accordance with the commitments made in the work tables that have been integrated to address this issue between PEMEX-AMESPAC and in order to make transparent and schedule Pemex's debts with its suppliers and contractors, both institutions have agreed to endorse their institutional collaboration, highlighting the following agreements:

- Starting this March, PEMEX will make public its payment and debt information with its suppliers and contractors through the publication of monthly reports that will be available on its website for public consultation without restrictions of any nature.

- PEMEX will develop a financial strategy to schedule the payment of the debt registered with suppliers and contractors that expired on December 31, 2020.

- The state-owned productive company undertakes to make the necessary effort to guarantee the flow of financial resources and thus pay such debts between the months of February and April 2021.

- In addition to the aforementioned payments, from the month of February, PEMEX will settle the debt that corresponds to activities also executed during 2020 but whose invoices will be due for payment throughout the year 2021.

-The commitment is ratified so that all micro and small companies that provide their services and offer goods to PEMEX have access, without restrictions, to the Productive Chains payment scheme through the Nacional Financiera Platform.

- AMESPAC, for its part, assumes the commitment to promote among the companies affiliated to the association Codes of Ethics and Business Integrity, to contribute to the fight against corruption that the Government of Mexico proposes in all commercial relations with suppliers and contractors of the Federal Public Administration.

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