The Mexican government introduced P-Caps to assist Pemex with its $105 billion debt and $20 billion in unpaid supplier bills. To boost oil and gas production, Pemex aims to increase crude output to 1.7 million barrels daily by 2033 and raise natural gas production by 40%. Seeking outside investors, Pemex plans to partner with private firms to revive old wells and develop fields. However, conditions for foreign investors are suboptimal, leading to a crisis of trust. Pemex has started paying some outstanding bills, but more action is needed to restore investor confidence and address its financial challenges.

Read more at Yahoo Finance: Pemex’s Debt Spiral Becomes a National Test for Mexico