Mexico City, Mexico — Pemex has presented its 2025-2030 work plan to recovery the country’s energy sector. Throughout the six-year presidential term, the production of liquid hydrocarbons is expected to reach an average of 1.8 million barrels per day.
Progress is being made in the recovery of the energy sector with key investments in refining, petrochemicals and natural gas, Luz Elena González Escobar, head of the Ministry of Energy reported.
During the Wednesday morning press conference headed by President Claudia Sheinbaum Pardo, González Escobar presented the work plan along with Víctor Rodríguez Padilla, the General Director of Petróleos Mexicanos (Pemex).
Rodríguez Padilla reported that within the framework of this strategic plan, actions will be implemented to increase hydrocarbon reserves with the aim of guaranteeing at least ten years of consumption.
The drilling of 269 exploratory wells distributed in six key projects will be carried out. In addition, seismic studies will be carried out in an area of 38,000 square kilometers and 220 billion pesos will be allocated to investment in exploration activities. The goal of this effort is to locate a total of 2 billion barrels of oil in the subsoil.
He mentioned that throughout the six-year period, the production of liquid hydrocarbons is expected to reach an average of 1.8 million barrels per day. To achieve this, 2,036 perforations will be carried out and 1,300 major repairs will be performed.
The total investment destined for these activities will amount to 1.6 billion pesos. In this process, 12 strategic projects will be key, contributing 61 percent of total production. It is estimated that the income derived from production will reach 5 billion pesos.
He said natural gas production will be increased to 5 billion cubic feet per day to strengthen the country’s energy supply with a public investment of 238 billion pesos in 1,058 drilling projects and 970 major repairs.
It is estimated that revenues will reach 1.9 trillion pesos. Four strategic projects will contribute 54 percent of total gas production, and work will be done to reduce gas flaring and fugitive methane emissions.
In line with the goal of achieving energy self-sufficiency, Pemex will strengthen its refining capacity in three key areas, ensuring the production of gasoline, diesel and jet fuel. There will be no gas price hikes and the market will be supplied and the price of gasoline will not exceed 24 pesos per liter.
Six refineries will be rehabilitated with an investment of 105 billion pesos to improve efficiency and reduce costs. Work is also being done on the use of residuals in the Tula and Salina Cruz refineries with an investment of 52 billion pesos, which will begin operations in 2025 and 2026, respectively.
In addition, the capacity of the Olmeca (Dos Bocas) and Deer Park refineries will be maximized, strengthening the country’s refining infrastructure.
He stressed that fertilizer production will be increased to meet national demand and reduce dependence on imports with an investment of more than 8 billion pesos. This will include the rehabilitation of the Lázaro Cárdenas plant in Michoacán and the construction of a new complex in Veracruz. Annual production of 1.5 million tons of phosphate fertilizers and 1.6 million tons of urea is expected.
The state-owned company will promote the recovery of the petrochemical sector by allocating 20 billion pesos to reactivate the Cangrejera complex under the petrochemical refinery model. In addition, it will seek to increase production in the Morelos and Cangrejera complexes for ethane derivatives, and the Escolín Petrochemical Complex will be modernized to reach an annual production of 750 thousand tons of urea.
Other objectives include the production of 30,000 barrels per day of gasoline components, 330,000 tons per year of aromatics, an annual production of 250,000 tons of ethylene oxide and 690,000 tons of polyethylene.
Security will also be strengthened in the storage, transportation and distribution of fuels. Storage capacity will be expanded to meet the demand for hydrocarbons and fuels, while avoiding additional costs due to infrastructure limitations. In addition, efforts will be doubled in the fight against theft and the illicit market of fuels, in close coordination with the security cabinet.
In the environmental field, Pemex will gradually and responsibly integrate clean energy projects. Circular economy practices are being implemented, where reuse, recycling and waste reduction help reduce greenhouse gas emissions. In addition, Pemex Energía is underway with projects aimed at the energy transition.
The Pemex head pointed out that, in collaboration with the Ministries of Energy and Finance, a financial strategy is being developed that is aligned with national needs. Financing comes mainly from Pemex’s investment budget, supplemented by private resources through mixed projects.
He highlighted that payments to suppliers began at the end of December 2024 and will continue to operate during the first quarter of 2025. In addition, the Federal Government will contribute 136 billion pesos for debt amortization, while Pemex will cover the Oil Rights for Welfare, with rates of 30 percent for hydrocarbons and 11 percent for non-associated natural gas.
The above, without affecting the Federal Government’s collection, thus optimizing Pemex’s contribution to public finances.
On Wednesday,, President Sheinbaum explained that the goal is for Pemex to produce 1.8 million barrels per day as well as not to increase the price of gasoline in real terms. She said a voluntary agreement will be signed with gas stations to maintain the price of gasoline at 24 pesos per liter
“The objective now remains the same, which is to produce a limit of barrels of oil and gas, which is Pemex’s main function. No more, why? Because we do not want to pollute more and we do not want to continue exporting, but rather that the oil we have — and oil runs out, it is a non-renewable resource — is maintained for current and future generations.
So, it is limited to 1.8 million barrels. All that oil that is produced, the vast majority goes to produce gasoline and diesel, mainly.
“There were six refineries that existed, which is the National Refining System, and now there are two more refineries (…) the one in Texas, which is Deer Park, and the other one, which is Dos Bocas.
“So these eight refineries, which are now completely owned by the Mexican State, by Pemex, will allow that demand for fuel to be met. What does that mean? Pemex for national sovereignty,” she said.
