The director of Pemex, Víctor Rodríguez, presented data showing that the company's financial debt was reduced by $20 billion from 2028 to the end of 2025.
«This is the lowest debt level in the last 11 years,» he stated.
He also reported that last year, a program was implemented to settle debts with suppliers, with a total of 390 billion pesos paid. Furthermore, the director assured that investment for this year will increase by 34% compared to last year, totaling 425 billion pesos. Of this, 345 billion will be allocated to exploration and production, 38 billion to refining, and 29 billion to petrochemicals and fertilizers.
However, he did not provide further details on the strategy to be implemented or if the amounts included mixed contracts, which have been a challenge in attracting partners due to the persistent risk perception among investors and rejection of the centrality that the oil company holds in these contracts.
The 2025 result is much better than expected. «In June, the second processing train was launched, reaching around 150 to 160 thousand barrels per day,» he said.
After receiving support from the Ministry of Finance and Public Credit, Petróleos Mexicanos assured it achieved the largest debt reduction in 11 years, progress in payments to suppliers, and greater investments for 2026.
The data was presented this Wednesday at the morning conference led by President Claudia Shienbaum, who recognized the oil company's results in 2025 and even stated they were greater than expected.
However, she did not take a concrete stance on turning off the tap of support to the oil company in 2027 as warned by the Treasury last year: «We will indeed wait, if in 2027, indeed, no additional support is required,» she responded when questioned on the matter.
She recalled that in 2025, the Treasury conducted financial operations to displace the oil company's maturities, mainly last year.
«In December, the average processing closed at 263 thousand barrels, with peaks of 320 thousand barrels sustained for four or five days,» he said.
Much better, and the goal is for Pemex to become increasingly independent.
Operationally, Rodríguez Padilla did not report on oil production last year, which hit its lowest level in 46 years at just over 1.6 million barrels per day, according to the most recent Pemex data.
Instead, he focused on highlighting that crude processing reached around 1.5 million barrels per day, with significant contributions from Dos Bocas (Olmeca), Tula, and Deer Park.
According to data offered by Pemex's Finance Director, Carlos Carpio, in the same conference space, the Olmeca refinery had a production peak last year of 320 thousand barrels per day.
