PEMEX Creates Oil Advisory Commission

PEMEX announced the creation of a new commission on the 88th anniversary of Mexico’s Oil Expropriation, with Cuauhtemoc Cardenas as its president. The new Oil Consulting Commission, announced during a ceremony in Pueblo Viejo, Veracruz, brings one of Mexico's most symbolically resonant political figures into the center of the country's energy governance architecture.

On the 88th anniversary of Mexico's oil expropriation, PEMEX announced the creation of a new strategic advisory body, the Comisión Consultiva del Petróleo (Oil Consulting Commission), and named Cuauhtémoc Cárdenas, son of the president who nationalized Mexico's oil industry in 1938, as its president. The announcement was made by PEMEX’s Director General, Víctor Rodríguez, during a commemorative ceremony in Pueblo Viejo, Veracruz.

"With President Claudia Sheinbaum’s approval, we will endow the General Directorate of PEMEX with an Oil Consulting Commission oriented toward the strategic analysis of national and international trends, conditions and perspectives of the hydrocarbon industry, with the purpose of expressing opinions and recommendations that support decision-making related to PEMEX’s objectives," Rodríguez said. "This commission will be chaired by engineer Cuauhtémoc Cárdenas Solórzano, in recognition of his experience, trajectory, leadership and deep nationalism, if he accepts," he added to laughter and applause.

President Claudia Sheinbaum, who presided over the ceremony, confirmed that Cárdenas had accepted the role, thanking him for "his struggle, his history, what he means for the country, and for having agreed to be part of this council that will help make decisions about Mexico's energy vision and PEMEX." 

The creation of the commission responds to PEMEX’s need to strengthen strategic decision-making in a context marked by financial pressures, global energy transition, and operational challenges in production and refining. Its mandate is analytical rather than executive: the body will assess domestic and international trends in the hydrocarbon industry and provide recommendations to PEMEX’s leadership, a consultative layer designed to bring long-horizon thinking to a company that has historically operated under acute short-term financial pressure.

The choice of Cárdenas is laden with symbolism. The designation was framed as a recognition of his decades-long record on energy sovereignty issues, and the appointment was positioned as a way of articulating experience, history, and a nationalist vision in the company's strategic direction. Cárdenas, now 91, has been a consistent voice for state control of energy resources throughout his career, first as governor of Michoacan, then as the 1988 presidential candidate, and subsequently as founder of the PRD. Sheinbaum praised Cárdenas for having "taught us that the struggle for democracy is built with the people," and stated pointedly that he should have become president in 1988.

The ceremony itself was steeped in historical narrative. Rodríguez invoked the legacy of Lázaro Cárdenas directly: "Today, 88 years later, under the inspiration of Cardenista nationalism, PEMEX remains the undisputed engine of the country's industrial development and the central shield of energy sovereignty. The public company resisted 30 years of neoliberal assault, ended up fragmented, plundered, and saddled with enormous debt, but it survived, and here we are."

Minister of Energy, Luz Elena González, used the occasion to present a balance sheet of the administration's energy record. She cited a 100% increase in petroleum product refining compared to 2018, a 19% reduction in PEMEX’s debt between 2018 and 2025, and the rehabilitation of petrochemical complexes as among the key achievements, while also highlighting the stabilization of regular gasoline prices below MX$24/L. She acknowledged, however, one of the administration's most persistent structural challenges: "We continue importing 75% of the natural gas we consume.”

The announcement was acknowledged by Senate President Laura Castillo, who told the chamber that the designation was applauded from the Senate floor as a move that "vindicates energy sovereignty," describing Cárdenas as "one of the people with the greatest knowledge of the subject" whose lifelong struggle to protect national hydrocarbons is widely recognized.

The commission arrives at a critical juncture for PEMEX. The company's 10-year strategic plan, unveiled in August 2025, aims to stabilize crude oil production at 1.8MMb/d and achieve financial self-sufficiency by 2027, when federal transfers are expected to be phased out. Yet average crude oil production declined by nearly 8% in 2025 compared to 2024, even as the company reported financial improvements including a significant reduction in its total debt.