Less than a year before Pemex stops receiving financial support to cover its debt amortizations, the Ministry of Finance and Public Credit (SHCP) decided to cut capital contributions planned for 2026 by 25%, according to the 2027 Pre-Criteria. The agency headed by Edgar Amador Zamora specified that from the budget line approved for Pemex in 2026, equivalent to 236.5 billion pesos, 59.4 billion pesos will be cut, in line with the government's strategy to reduce its fiscal support dependency. Finance argued that this decision was due to the appreciation of the Mexican peso and the refinancing of stock certificates (Cebures) carried out in mid-February, an operation made possible by the strengthening of Pemex's financial position, derived from the support granted by the Federal Government in 2025. 'The above allowed improving its maturity profile and to reduce the budgetary needs planned for this year,' according to the document. It is worth noting that in the 2026 Economic Package, a budget line of 263.5 billion pesos for Pemex was contemplated, an amount higher than the 236.5 billion pesos reported by Finance in the 2027 Pre-Criteria. El Financiero consulted the agency's communications area to clarify this difference, without receiving a response. How much money will Pemex receive in 2026? If the amounts proposed by Finance in the 2027 Pre-Criteria are confirmed, Pemex would receive government support of up to 177.1 billion pesos in 2026, which would imply a 55.3% reduction compared to the 396.2 billion pesos granted in 2025. Between 2019 and 2026, the governments of President Andrés Manuel López Obrador and current President Claudia Sheinbaum would have allocated 1 trillion 570 billion pesos in capital contributions to the oil company to face its debt maturities. According to Pemex's Strategic Plan for the 2025-2035 period, the company will no longer require help to pay its debt amortizations starting in 2027. The budget cut occurs despite Pemex having to cover 22.5% of its total debt during 2026. This amount is equivalent to 345.4 billion pesos (19 billion dollars), according to the 'Pemex en la mira' report published by the Mexican Institute for Competitiveness (IMCO).
