President Claudia Sheinbaum Pardo announced that in 2025, Petróleos Mexicanos (Pemex) reached the highest crude oil processing level in its history, averaging 1.5 million barrels per day. She affirmed that this achievement positions Pemex as an efficient public enterprise serving the people of Mexico and demonstrates that state integration is more effective than privatization.
As part of its strengthening, Pemex also reduced its debt by over $20 billion, improved its credit rating for the first time in 11 years, and increased its investment for 2026 by 34%, with a historic budget of 425 billion pesos. These milestones, Sheinbaum explained, are the result of integrated work across its eight refineries—the six traditional ones, Dos Bocas, and Deer Park—and the reform that restored Pemex’s status as a national enterprise.
Energy Secretary Luz Elena González Escobar stated that the legacy of the neoliberal period, which once left Pemex as the most indebted oil company in the world, has been reversed. In contrast, in 2025, financial obligations were met, 390.2 billion pesos were paid to suppliers, and operations were strengthened through vertical integration, cost reduction, and increased production and sales.
Pemex CEO Víctor Rodríguez Padilla detailed that hydrocarbon production increased by 122,000 barrels per day, while sales of gasoline, diesel, and jet fuel rose by 8% in the second half of 2025. Additional increases were reported in sales of sulfur (89%), petroleum coke (39%), and asphalt (25%). The production of phosphate and nitrogen fertilizers grew by 21% between 2024 and 2025, alongside ongoing modernization of petrochemical complexes and refineries such as Tula and Salina Cruz.
For 2026, Pemex will undertake strategic projects aiming to reach 1.8 million barrels of crude per day and 4.5 billion cubic feet of natural gas per day. A new development axis will be launched to include lithium extraction from brines, offshore wind power, geothermal energy, green hydrogen, and the utilization of off-specification gas—all aligned with an energy policy focused on sovereignty, innovation, and carbon footprint reduction.
