PEMEX Improves Gasoline Output: The Week in Oil and Gas

PEMEX’s gasoline and diesel production outpaced fuel oil output in 4Q24, signaling a refining shift. Meanwhile, new secondary energy laws reinforce PEMEX and CFE as state-owned enterprises, introducing CNE to replace CRE and CNH.

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PEMEX’s Gasoline Output Surpasses Fuel Oil in 4Q24

PEMEX saw gasoline and diesel production exceed fuel oil output in 4Q24, signaling a shift in refining trends. In December, gasoline production reached 307Mb/d, diesel 202Mb/d, and fuel oil 181Mb/d. This marks a significant decline in fuel oil output compared to earlier in the year when it peaked at 312Mb/d in January. 

Secondary Legislation for Mexico’s Energy Reform Advances

Claudia Sheinbaum signed a package of secondary laws related to the constitutional energy reform, reversing the modifications introduced in 2013 by former President Enrique Peña Nieto. This reform reestablishes CFE and PEMEX as state-owned public enterprises. These laws led to the creation of the National Energy Commission (CNE), a new regulatory body that will replace CRE and CNH.

PEMEX reports that the reform consolidates PEMEX’s status as a key federal entity, with the Ministry of Energy (SENER) overseeing sector-wide planning. This reform eliminates three subsidiary companies that operated as private entities within PEMEX, along with nearly 50 additional subsidiaries.

Trump to Consider Oil for 25% Tariffs

President Donald Trump is still considering whether to apply the same proposed tariffs of 25% to oil imports from both countries. After negotiations, the tariffs remain paused for another month, announced President Sheinbaum.

Critical Challenges, Opportunities on the Horizon for Mexico

Mexico’s oil and gas sector faces critical challenges and opportunities as the country navigates its energy transition, refining losses, and evolving policy landscape, according to industry experts at the announcement of Expo Oil and Gas México 2025.