The Pemex budget suffers a cut for the next year, with a request of 464,255 million pesos in the 2025 Economic Package, which represents a 2.4% decrease in real terms. It is expected that in 2025, Pemex will produce 1,891,000 barrels per day of liquid hydrocarbons, with an annual decline of 0.9% in the export of 892,000 barrels per day of crude oil.
In contrast, it is estimated that private oil companies will produce 74,000 barrels per day, an increase of 10% compared to 2024. The average price of a barrel of oil is projected at 57.8 dollars, 18.2% less than the previous year.
To support Pemex, the Government will grant 136,235 million pesos in 2025 for debt payment, which represents a 23.6% decrease compared to 2024. This support will be channeled through the Ministry of Energy and is subject to Pemex's commitment to improve its balance by the same amount.
The Ministry of Finance and Public Credit expects that this support, along with other measures such as the Petroleum Rights for Welfare, will contribute to Pemex's financial improvement. Among the current financial challenges of the company are the burden of interest, annual pension payments, lack of liquidity, debt with suppliers, and debt maturities.
In this context, Roxana Muñoz, associate vice president at Moody's, mentioned: 'We expect government support to continue because there is no way Pemex can do it alone.'
