Mexico City, Mexico — Pemex finished 2025 processing 1.5 million barrels a day of crude while paying more than 390 billion pesos in debt. Víctor Rodríguez Padilla, the CEO of Petróleos Mexicanos (Pemex), reported Wednesday that the company has its lowest debt in 11 years.
Accompanied by the Secretary of Energy, Luz Elena González Escobar, Rodríguez Padilla reported that, Pemex has decreased its debt by $20 billion USD. The decrease in debt is the result of joint work between the Ministries of Finance (SHCP) and Energy (Sener).
The decrease, which is the equivalent to a reduction of 20.1 percent, placed its financial debt at the lowest in 11 years.
During his Wednesday report, he highlighted a key element of Pemex’s financial strengthening was the payment to suppliers. That payment was more than 390 billion pesos in 2025, allowing the normalization of operations and strengthened production chains.
He said it also restored confidence in the thousands of companies that work with Pemex throughout the country.
According to Rodríguez Padilla, their inter-institutional strategy has been positively assessed by the main rating agencies and that, for the first time in 11 years, registered an improvement in its credit rating with a stable outlook.
Regarding operational performance, Víctor Rodríguez Padilla noted that Pemex compensated for the decline in oil and natural gas fields and stabilized national production in annual terms with an increase of 122,000 barrels per day.
In refining, the improvement of infrastructure and operational optimization closed in December 2025 with 1.5 million barrels of crude per day. The company is processing and registering a higher yield of more than 60 percent, he said, however, the goal is to reach 80 percent.
He said that Pemex is producing more gasoline, diesel and jet fuel, and fewer residual products such as fuel oil, which has progressively increased the yield of higher-value products.
He also reported that the refining margin is positive, confirming that it is a profitable business that benefits Mexico.
He said that, during 2025, sales of high-value petroleum products increased steadily between July and December by nearly 8 percent. That increase, he explained, is equivalent to 81,000 barrels per day and means less dependence on imports, greater energy security and the strengthening of energy sovereignty.
He added that, in addition to these results, there was an increase in the marketing of other petroleum products. The sale of sulfur went from 370 to 700 tons per day, which represents an increase of 89 percent.
Petroleum coke grew from 4,000 to 5,500 tons per day (29 percent) and asphalt rose from 1,761 to 2,209 tons per day.
Rodríguez Padilla reported that in 2025 the production of phosphate and nitrogen fertilizers increased by 21 percent, increasing from 807,000 tons in 2024 to 975,000 tons in 2025, which reaffirms the commitment of the State Public Enterprise to support small agricultural producers and strengthen food sovereignty.
Regarding the challenges for 2026, he announced that Pemex will increase its productive investment by 425 billion pesos, representing a 34 percent increase compared to 2025. This is aimed at ensuring production, efficiency and sustainability in the medium and long term.
He detailed that the plan includes priority exploration and production projects such as Trión, Zama and Maloob, to meet the goal of 1.8 million barrels per day as well as strategic natural gas projects in Ixachi, Bakté and Burgos, with the objective of reaching 4.5 billion cubic feet per day.
He said that Pemex has a new strategic focus based on projects for an orderly, sovereign and socially just energy transition. They include initiatives such as lithium in oil brines, offshore wind energy, geothermal energy, green hydrogen, biofuels, energy efficiency and circular economy.
