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 Padilla. 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.

Rodríguez said PEMEX has entered a stage of “integral recovery,” following the 2024 constitutional reform and the company’s 2025–2035 Strategic Plan. The state oil firm now operates as a unified public entity with technical and operational independence, a simplified fiscal regime, and a renewed mandate to strengthen Mexico’s energy sovereignty and hydrocarbon self-sufficiency.

Crude oil production has stabilized at 1.645MMb/d, with expectations to reach 1.8MMb/d in the near term, driven by fields such as Ixachi and Bakté. Natural gas output stands at 3.687Bcf/d. PEMEX also drilled 17 exploratory wells, adding an estimated 200boe in reserves, while new seismic studies identified 1.7Bb of prospective resources.

Refining activity has reached 1.05MMb/d, increasing fuel output by 688Mb/d and reducing imports by 31%. The coking plants in Tula and Salina Cruz are nearing completion at 87% and 74%, respectively, while the Deer Park refinery in Texas has processed 88MMb of Mexican crude through June and exported 32MMb of refined products to Mexico.

In collaboration with CFE, PEMEXis developing 2.4 GW of cogeneration capacity and evaluating renewable and alternative fuel projects. The company plans to build cogeneration plants at the Tula refinery, with an estimated cost of MX$17.38 billion; the Salina Cruz refinery, at MX$16.48 billion; and the Cangrejera Petrochemical Complex, at MX$17.44 billion, a combined investment of more than MX$51,000 million. Rodríguez Padilla said the company’s new phase “consolidates a PEMEX of the people and for the people,” focused on energy sovereignty, sustainability, and long-term stability.