MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 12.Feb.2025) — Mexico’s president Claudia Sheinbaum Pardo said the principal work plan through 2030 for state-owned Petróleos Mexicanos (Pemex) was to produce 1.8 million barrels per day (MMb/d) during her six-year presidency (2024-2030) or sexenio in order to maintain Mexico’s oil for current and future generations and maintain a lid on gasoline prices in real terms.
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“The objective remains the same: to produce a limited amount of barrels of oil and gas,” Sheinbaum said 12 Feb. 2025 during her daily mañanera or morning media briefing.
“No more, why?, because we don’t want to pollute anymore and we don’t want to continue exporting. The oil we have is running out, it is a non-renewable resource, so we want to maintain it for current and future generations. So, it is limited to 1.8 million barrels per day. And, all that oil that is produced, the vast majority will produce gasoline and diesel, mainly,” Sheinbaum said.
RELATED: Sheinbaum Says Pemex to Guarantee 1.8 MMb/d, Functioning of 8 Refineries
Sheinbaum said Mexico’s national refining system originally consisted of 6 refineries but 2 new refineries … The 1 in Texas in Deer Park and 1 in Dos Bocas would take Pemex’ refining system up to 8, of which 7 would be domiciled in Mexico and 1 in the US.
“So these 8 refineries are now completely owned by the Mexican state, and will allow Pemex to satisfy demand for fuels in Mexico,” Sheinbaum said.
Sheinbaum said it was important for Pemex to cover demand for gasoline in Mexico in order to guarantee national sovereignty.
Additionally, Sheinbaum outlined other key issues and items in the Mexican energy space including the need to:
— give more importance to sustainability;
— reduce the gas that is burned in the atmosphere and instead use it for national consumption or for injection into wells to increase production;
— conclude work at the Pemex cokers in order to produce more gasoline, diesel and less fuel oil;
— invest more in petrochemicals and fertilizers, which were abandoned in the neoliberal period;
— promote a circular economic center in the state of Hidalgo through Pemex in coordination with the Ministry of Environment and Natural Resources (Semarnat); and
— continue with Pemex’ financial consolidation that began during the administration of former president Andrés Manuel López Obrador (2018-2024).
Sheinbaum said Pemex’ mission would be the same under her term as under López Obrador’s, which reflected continuity of the company project to boost production and refined products for domestic consumption.
Sheinbaum said that in 2 immediate presidential administrations prior to López Obrador’s that the main objective of Pemex was the export its oil. This, as the 6 refineries that operated in the 12 years under former presidents Felipe Calderón to Enrique Peña Nieto didn’t produce enough fuel for the domestic market due to underinvestment, which resulted in Mexico relying almost exclusively on imported fuels.
“In 2018 almost 80% of the gasoline consumed by Mexico was imported,” Sheinbaum said.
In the gasoline space, Sheinbaum said steps were being taken at the country’s gasoline stations in order to prevent the price from rising above MXN24 Mexican pesos per liter.
“We expect that in about two weeks — more or less — that we will be signing deals with all the gas stations … because it is a voluntary agreement so that [the prices] does not go up above 24 pesos,” Sheinbaum said.
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By Fidencio Casillas reporting from Mexico City with assistance from Pietro D. Pitts in Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
