Mixed Contracts Awarded: The Week in Oil and Gas

PEMEX has awarded five of its planned mixed contracts with private partners, the company said Tuesday, marking a step in its strategy to reverse declining crude and gas production.

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PEMEX Awards First Five Mixed Contracts in New Upstream Drive

The contracts are scheduled to be signed on Dec. 19 and involve onshore fields in several key basins across the country.

PEMEX Reports on Budget Spending, Expands Financing for 2026

PEMEX reported that it is executing its physical investment program in line with what was approved in the federal budget for the current fiscal year, as the NOC deploys significant public and structured financing resources to stabilize operations and sustain hydrocarbon production.

PEMEX Might Be Returning to Debt Markets

BlackRock, the world’s largest asset manager, said it expects PEMEX will eventually return to international debt markets, despite President Claudia Sheinbaum’s stated intention to avoid new external bond issuances. The comments add to ongoing public debate about how the state-owned company should finance its operations as it continues to face one of the largest debt burdens in the global energy industry, reports Bloomberg Línea.

BANOBRAS to Advance on PEMEX Supplier Debt

The National Works and Public Services Bank (BANOBRAS) announced that it will pay MX$180 billion (US$9.969 billion) of PEMEX debt to suppliers by the end of 2025, a major move aimed at alleviating long-standing financial pressures on the state oil company and supporting broader plans to stabilise its finances and production prospects.

Analysts Show Concern About PEMEX’s Production Plans

As the government pushes PEMEX to raise crude output, a new warning from financial and industry analysts points to the company’s heavy debt burden as a major obstacle for forming new partnerships and achieving production targets. The warning follows a report by Reuters that frames PEMEX’s financial liabilities as a red flag for potential investors and private-sector partners.