Author Topic: Sen. Cruz speaks out for American companies unpaid by PEMEX  (Read 1355 times)

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Online Elderberry

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Sen. Cruz speaks out for American companies unpaid by PEMEX
« on: September 13, 2018, 02:10:46 am »
Fox26 By: Greg Groogan 9/11/2018

Drilling equipment, nearly a quarter billion dollars worth, was ordered from American companies by Mexico's national oil company four years ago, but never paid for.

Left on the brink of financial disaster, more than 100 American vendors, many here in Houston, have been seeking a big voice to plead their case. Today those hopes were answered.

"At the tail end of the contract, it appears PEMEX just turned and walked and refused to pay their bill. The consequence already is that we have lost about 2,000 jobs as a result of PEMEX breaking their contract and refusing to pay their bill," said Senator Ted Cruz of Texas.

More: http://www.fox26houston.com/news/sen-cruz-speaks-out-for-american-companies-unpaid-by-pemex

Offline IsailedawayfromFR

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #1 on: September 13, 2018, 02:57:59 am »
This is like a reverse tariff
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Frank Cannon

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #2 on: September 13, 2018, 03:17:33 am »
Wow. A bunch of Mexicans are deadbeats. Who saw that coming.

Offline thackney

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #3 on: September 13, 2018, 11:58:21 am »
I used to work for a company that did engineering & design work for Pemex.

A 2 year project would typically take 5~10 years to complete.  We would only do work when paid in advance.  Each discipline was given clear limits of the hours that could be charged this time around.  We were expected to end those hours with it in shape to put it back on the shelf.  It might start again in a month or 2 years.  Rarely could you have the same team members start and finish their project.  It would cost at least twice as much as well due to this inefficiency.
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Offline GrouchoTex

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #4 on: September 13, 2018, 01:14:03 pm »
I used to work for a company that did engineering & design work for Pemex.

A 2 year project would typically take 5~10 years to complete.  We would only do work when paid in advance.  Each discipline was given clear limits of the hours that could be charged this time around.  We were expected to end those hours with it in shape to put it back on the shelf.  It might start again in a month or 2 years.  Rarely could you have the same team members start and finish their project.  It would cost at least twice as much as well due to this inefficiency.

Around 30 years ago, we did a large order of parts for a few compressor rebuilds for PEMEX.
Piston and Rider rings, pressure packing and wiper ring sets, valve replacement parts, etc.
We didn't get anything up front, but we asked for 50% before they left our facility.
They sat there for a long time.
They finally paid the 50%, so we shipped the parts, but we never received the balance.

Offline thackney

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #5 on: September 13, 2018, 01:16:39 pm »
Around 30 years ago, we did a large order of parts for a few compressor rebuilds for PEMEX.
Piston and Rider rings, pressure packing and wiper ring sets, valve replacement parts, etc.
We didn't get anything up front, but we asked for 50% before they left our facility.
They sat there for a long time.
They finally paid the 50%, so we shipped the parts, but we never received the balance.

That my friend was a clue.  The management missed it.
Life is fragile, handle with prayer

Offline GrouchoTex

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #6 on: September 13, 2018, 01:39:59 pm »
That my friend was a clue.  The management missed it.

We learned that lesson, to ask for at least 1/2 up front, and the balance on delivery, with a time limit on how long delivery would be.
At least we would cover labor and material cost....

Offline thackney

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Re: Sen. Cruz speaks out for American companies unpaid by PEMEX
« Reply #7 on: September 13, 2018, 01:48:39 pm »
We learned that lesson, to ask for at least 1/2 up front, and the balance on delivery, with a time limit on how long delivery would be.
At least we would cover labor and material cost....

I'm sure our company policy (Foster & Wheeler) was from a similar lesson in the past.
Life is fragile, handle with prayer