Mexico City, Mexico — President Claudia Sheinbaum Pardo has presented the 2025-2035 Strategic Plan for Petróleos Mexicanos (Pemex). She says the plan represents a step forward in rescuing the company. Starting in 2027, the company will have sufficient revenue to pay its debt and have a budget for investments she reported Tuesday.
“We are all very happy. The Ministry of Finance, the Ministry of Energy, Pemex and the President because we have managed to build a vision for the future of Pemex with a thorough review of the numbers, from production to Pemex’s accounting figures from 2025 to 2035.
“It is a strategic vision of Pemex, the company of the people of Mexico, for the present and the future of Mexico,” she said during The People’s Morning Press Conference.
Sheinbaum reported that Pemex’s Strategic Plan aims to reduce Petróleos Mexicanos’ debt, produce 1.8 million barrels of oil per day and increase petrochemical and gas production.
Pemex CEO Víctor Rodríguez Padilla emphasized that the 2025-2035 Strategic Plan guarantees Pemex’s economic viability in the short, medium and long term under the principles of sovereignty, security, sustainability and energy justice, through 13 actions:
- Consolidate crude oil production, export surpluses and replenish reserves: Two large fields in the Gulf of Mexico will be developed, and fields with the potential to reach the target of 1.8 million barrels per day will be reactivated.
- Expand natural gas production by taking advantage of resources in the south and north of the country.
- Increase production of gasoline, diesel, jet fuel and other refined products: a process is proposed to obtain 80% of these products, and construction of the coking plants in Tula and Salina Cruz is being completed.
- Expand the supply of petrochemicals and fertilizers: the Cosoleacaque, Morelos, Cangrejera, Independencia and Escolín complexes are being rebuilt, production of urea, ammonia and other petrochemicals will be increased and the transition from regular refineries to petrochemical refineries will occur.
- Expand the gas pipeline network with the construction of three new ones that connect to some Wellness Hubs, mainly in Coatzacoalcos II.
- Logistics services to third parties, taking advantage of Pemex’s smaller fleet.
- Build cogeneration plants in Tula, Salina Cruz, Cangrejera and Nuevo Pemex to reduce greenhouse gas emissions and increase the efficiency of thermal generation processes.
- Improve product marketing.
- Market energy sources other than hydrocarbons, such as solar, wind, geothermal, hydrogen and biofuels.
- Lithium production from oil brines: five fields are viable for industrial use.
- Reducing greenhouse gas emissions by 14% and providing greater support to communities so that Pemex is closer to the people.
- Reduction of administrative expenses.
- Strengthen the financial position.
Energy Secretary Luz Elena González Escobar emphasized that Pemex is assuming, as it has done for 87 years, its historic responsibility and demonstrating that energy sovereignty is at the heart of the current transformation.
The Secretary of Finance and Public Credit, Edgar Amador Zamora, detailed Pemex’s Comprehensive Capitalization and Financing Strategy, which consists of a series of efforts and operations between 2025 and 2026 with the goal of no longer requiring support from the Ministry of Finance and Public Credit by 2027. These are:
- Establishment of the Oil Welfare Right at 30%, which contributes to Pemex’s financial strength.
- Reduction of financial and commercial debt: Issuance of Pre-Capitalized Notes (PCAP) to anticipate payments on obligations in 2025 and 2026 and strengthen liquidity. This led FitchRatings to raise Pemex’s credit rating from B+ to BB with a stable outlook.
- Operational improvements and process optimization and strengthening of the organizational structure.
- Financing of productive investment.
- Development of mixed projects: through an Investment Fund for Pemex, which in 2025 alone will have resources of up to 250 billion pesos (mdp) guaranteed by the Government of Mexico.
