Schlumberger reports $500 mln in payment delays from Mexico

Jan 26 (Reuters) - Schlumberger, the world's largest oilfield services company, on Wednesday said its primary customer in Mexico is late making payments on some $500 million as of the end of 2021, according to a regulatory filing.

Accumulated debt at the end of 2020 by the customer, whose name Schlumberger did not disclose, was $700 million, according to the filing.

Mexico's highly indebted state-run oil company Pemex has intermittently accumulated debt to providers in recent years, but the company has said it is capable of meeting its financial commitments.

Pemex did not immediately respond to a request for comment.

Schlumberger said receivables from the customer are not in dispute, and that it has not historically faced any material write-offs due to uncollectible accounts receivables from the customer.

Pemex, whose financial debt was $113 billion at the end of the third quarter, in December said it will conduct "a liability management transaction" of outstanding securities https://www.reuters.com/markets/us/mexicos-pemex-issue-new-debt-35-bln-cash-injection-planned-2021-12-06 this year, funded with a capital injection of up to $3.5 billion from the government. (Reporting by Liz Hampton in Denver, additional reporting by Adriana Barrera in Mexico City; editing by Diane Craft)