PEMEX Output Falls as Veracruz Spill Recovery Advances

PEMEX reported continued operational and financial pressure in its 3Q25 results, with crude production down 6.6% year-on-year to 1.65MMb/d. The company noted gains in natural gas output and steady refining activity, as well as ongoing government-backed efforts to stabilize payments and strengthen its balance sheet. However, financial debt rose to US$100.3 billion, and supplier obligations increased 20% from the previous quarter to MX$518 billion, highlighting persistent liquidity strains.

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PEMEX 3Q25 Crude Output Falls 6.6%, Debt Rises to US$100 Billion

Third-quarter revenues fell 11.1% year-on-year to MX$378.9 billion, driven by lower export volumes and softer international crude prices. The cost of sales declined 10.3% to MX$341.6 billion, aided by reduced product purchases for resale, the elimination of extraction and exploration duties, and smaller inventory adjustments. Gross profit reached MX$37 billion, while a foreign exchange gain of MX$33.4 billion helped offset lower sales and financial impairments.

PEMEX Recovers 1.6 Million L of Hydrocarbons in Veracruz Spill

PEMEX announced ongoing efforts to address the leak in its 30in Poza Rica-Madero pipeline in Alamo Temapache, Veracruz. To date, 1.602 million L of hydrocarbons have been recovered from 10 strategic points along the Pantepec River and its tributaries.

PEMEX Reports Output Recovery, Refining and Energy Progress

PEMEX presented new operational and financial results showing signs of stabilization and growth after years of underinvestment and high debt, according to the company’s CEO, Víctor Rodríguez. The update came during his appearance before the Energy Commission of the Mexican Chamber of Deputies, as part of President Claudia Sheinbaum’s first government report.

BASF Recognized for ESG Leadership at HSBC 2025 ELIS Awards

BASF has been recognized as a Leader in Sustainable Innovation in the Social category at HSBC’s 2025 ELIS Awards, which honor companies integrating ESG principles into their business strategies in Mexico. 

Proturvac Expands Globally with Energy, Waste Solutions

Proturvac is expanding its international footprint by exporting a sustainable engineering model to the oil-and-gas sector. The Mexico-based company has developed a system that integrates energy-efficiency programs, waste-management protocols, and resource-optimization measures in drilling and maintenance operations.

Halliburton Reports 3Q25 Profit, Mixed Activity in Latin America

Halliburton reported a net income of US$18 million, or US$0.02 per diluted share, for 3Q25, driven by steady international operations and gains in North America but offset by lower activity in key markets such as Mexico and Saudi Arabia. The Houston-based oilfield services firm said its adjusted net income was US$496 million up from US$472 million in the previous quarter. Total revenue reached US$5.6 billion, a slight increase from US$5.5 billion in the second quarter.

Pipeline Explosion Injures Five Soldiers in Chiapas

A PEMEX pipeline explosion in the San Miguel ranchería, Reforma municipality, has injured at least five elements of the Ministry of National Defense (SEDENA) in Chiapas. The affected area is located on a new line running in front of the Cactus Gas Processing Complex. PEMEX personnel at the scene stated that the explosion occurred on a new 36in line that transports sour gas from Reforma toward the city of Merida.

Brent Crude Futures Enter Deepest Contango Since December 2023

The discount of Brent crude front-month futures relative to the six-month contract reached its lowest level since December 2023 on Monday. This move reflects a growing perception of abundant supply as OPEC+ and other producers increase output.