PEMEX Doubles Daily Refinery Output / Epstein Case Reaches Mexico

PEMEX Doubles Daily Refinery Output. The president highlighted that refinery production has risen, noting that upgrades and optimization projects have increased crude processing to 1.5 million bpd. The Tula and Dos Bocas refineries now process up to 280,000bpd and 320,000bpd, respectively.

In addition, PEMEX closed 2025 with a debt of US$84.5 billion, down from US$97.6 billion in 2024, marking five consecutive years of reductions. However, December export revenues plunged 61.5% to US$634 million, with volumes dropping from 807,000 bpd to 368,000 bpd. Domestic fuel output rose 34% to 1.19 million bpd, yet total liquids averaged 1.635 million bpd, the lowest in 46 years. Crude production is nearly 40% below 2015 levels, and condensates declined for the first time in seven years.

Experts caution that prioritizing domestic refining strains finances, limits investment in exploration, and highlights infrastructure inefficiencies. Balancing fuel self-sufficiency with fiscal stability remains a key challenge for the state-owned company.

PEMEX Strengthening Plan. Energy Minister Luz Elena González unveiled PEMEX’s 2025–2035 strengthening plan, designed to increase national oil production and further reduce the company’s debt, currently exceeding 130% of revenues.

“We are presenting the PEMEX Strengthening Plan, 2025–2035. This plan focuses on reinforcing Petróleos Mexicanos, which belongs to all Mexicans. Its main objectives are to enhance our energy security and sovereignty, and it reflects a coordinated effort across the entire energy sector,” González stated.

PEMEX’s Strategic Plan 2025–2035 seeks to reverse decades of declining production through diversification, smaller technically complex fields, and onshore developments. The plan targets 1.794 million bpd in 2026 and 1.8 million bpd by 2035. The company has identified 21 priority projects, including the Cuervito and Tamaulipas-Constituciones blocks, but slow project execution, regulatory uncertainty, and limited private investment impede progress. Analysts note that operational pressures from mature reservoirs, insufficient drilling, and aging refineries further restrict growth.

Epstein-Related Investigations in Mexico. Regarding Mexicans allegedly linked to Jeffrey Epstein, President Claudia Sheinbaum affirmed that her administration would cooperate with US authorities if requested by the Department of Justice.

“This is an investigation that must be carried out in the United States. If the Department of Justice requests Mexico’s collaboration, we will participate, but the investigation itself is taking place in the United States,” she said.

Sheinbaum’s remarks follow the US Department of Justice’s release on Jan. 30 of over three million pages of documents related to the Epstein case, including emails, contact lists, more than 2,000 videos, and nearly 180,000 images. The files reference a range of international political and business figures, including some Mexican entrepreneurs. To date, none of the individuals mentioned have been formally charged by US authorities based on this information.

Speculation has emerged online suggesting that former President López Obrador may have been aware of alleged illicit activities by Epstein in Mexico. However, there is no official confirmation, judicial evidence, or statement from either the US Department of Justice or Mexican authorities supporting these claims.