MEXICO CITY, MEXICO (By Pemex, 5.Aug.2025, Words: 1,096) — Petróleos Mexicanos (Pemex) plays a central role for Mexico, and it belongs to all Mexicans.
This sentiment was echoed by Secretary of Energy, Luz Elena González, the Secretary of Finance and Public Credit, Edgar Amador Zamora, and the CEO of Petróleos Mexicanos (Pemex), Víctor Rodríguez Padilla, as they jointly unveiled the Strategic Plan 2025-2035 of this key State-owned company.
RELATED: Pemex financial debt, amounts owed providers
These leaders explained that the strategic roadmap defines the financial and productive strategy for at least the next decade, while also casting a long-term vision. They stressed that the plan is solidly structured upon viable technical foundations and enjoys broad political support. The Secretary of Environment and Natural Resources, Alicia Bárcena, and the general director of the Federal Electricity Commission, Emilia Calleja Alor, were also present at the unveiling event.
Taking the floor in the auditorium of the new facilities of the Secretariat of Energy, Luz Elena González pointed out that Pemex’s Strategic Plan is reality-based and is designed to resolve financial and operational challenges responsibly. Moreover, she stated, it is an invitation “to work together to build a new era in the Mexican energy sector.”
RELATED: Sheinbaum’s team negotiates plan to evade Trump’s tariffs for 90 days
Speaking before representatives of the energy and business sectors, national and international investors, representatives of the media and an assortment of public officials, Secretary González emphasized that the strategic plan calls upon everyone to stand together, because energy sovereignty is the key element of the second stage of the Fourth Transformation, whose vision demands the public interest and the people be the prime drivers of State action.
Expanding further, Gonzalez said that the strategic plan solves the structural and financial challenges of Pemex, allowing it to operate efficiently to meet domestic fuel demands and promote economic development, while making significant progress toward the goal of energy transition.
RELATED: Woodside says Trion project at 35% completion mark at the end of 2Q:25
Gonzalez stressed that the strategic plan serves to shield energy sovereignty by ensuring that strategic decisions on natural resources are made for the benefit of the people of Mexico.
She added that in the first ten months of President Claudia Sheinbaum’s administration, the energy sector has been completely transformed on the basis of last year’s constitutional reforms and a broad swath of laws and regulations that emanate from these reforms, all of which will allow Pemex’s mission to coalesce vertically and horizontally as it is freed from many institutional obstacles.
RELATED: Pemex reports 2Q:25 financial and operational results [pdf downlaods]
These reforms, she stated, have given the State back its ability to perform comprehensive planning through the Secretariat of Energy, which is invested with sufficient authority to coordinate with institutions of the private sector under a shared vision that guarantees coherence of public policies, stability in decision-making and certainty in the execution of projects.
Secretary Gonzalez emphasized that this robust institutional framework provides the footing for cooperation between the public and private sectors. “It constitutes the foundation of mutual trust and provides certainty for those who wish to participate in the construction of a strong, renewed and inclusive Mexico,” she said, emphasizing that private participation is always welcome as long it aligns with the national interest and serves to strengthen Mexico’s energy sovereignty.
RELATED: Pemex owes $700mn to Carso Group
With an initial focus on capitalizing the company, several objects of the Strategic Plan, such as debt reduction, access to new sources of financing, optimization of financial operations, and improving the financial profile of the company on the basis of a sustainable financing system, are already underway, she stated.
Secretary Gonzalez closed her remarks saying that the history of Pemex is currently undergoing important changes, changes that will be enacted responsibly and always with an eye toward efficiency and financial discipline.
RELATED: Mexico’s Sheinbaum and Brazil’s Lula talk bilateral relations, ethanol, biodiesel
The Secretary of Finance and Public Credit, Edgar Amador, emphasized that Pemex’s comprehensive capitalization and finance strategy solves the structural challenges of the State-owned company as it sets a clear course toward healthy finances, stable operation and renewed capacity to invest in the country’s productive development.
He indicated that this year and into 2026, Pemex faces several significant debt maturities, which are currently the subject of joint efforts involving the Secretariats of Energy and Finance (Hacienda). In this way, he stated, Pemex will be able to meet these debt obligations, which accrued prior to the governments of the Fourth Transformation.
RELATED: Kootenay to commence stage one of next 50,000m of drilling in Mexico
He pointed out that the strategy will allow Pemex to meet these burdensome amortizations in 2025 and 2026, since it enjoys solid support of the Secretariat of Finance. Starting in 2027, with a more solid financial structure and a positive balance, Pemex will be able to meet its amortizations with its own resources without requiring additional support.
He explained that the core objective is to provide the company with a solid financial position that allows it to finance its operating expenses, meet its financial obligations and maintain operational stability in the medium and long terms.
RELATED: Mexico’s Ministry of Finance to take action to strengthen Pemex’s financial position
For his part, Pemex CEO Víctor Rodríguez Padilla said that the fundamental objective of the strategic plan is to achieve financial stability by boosting revenues and reducing costs. At the core of this objective are exploration and production.
The strategic plan, he stressed, considers the traditional hydrocarbons energy chain, complemented by the industrial, logistical, administrative arms of the newly reorganized Pemex, which, in line with the course set by President Claudia Sheinbaum, will serve to transform the State-owned company over the medium and long term into a comprehensive energy company capable of operating renewable energy plants and other alternative power delivery systems.
RELATED: Japan Credit Rating (JCR) reaffirms rating on Mexico’s foreign currency
“Over time, Pemex will gradually stop basing its business on hydrocarbons and increasingly focus on renewable energy sources,” he said, noting that the hydrocarbon production cap of 1.8 million barrels per day can be set higher; however, the strategic plan’s vision of sustainability contemplates a gradual decrease in the preponderance of hydrocarbons in the energy mix.
Rodríguez Padilla added that Pemex has deployed a gas production strategy that will allow it to grow output from 3.5 billion cubic feet per day to 5 billion. He also addressed issues associated with refining, energy transformation, power generation and Pemex’s foray into renewable energy sources such as solar, wind, geothermal as well as the importance of lithium.
The head of the National Bank of Public Works and Services, Jorge Mendoza Sánchez, detailed the financial plan for the next two years, which, as per the instructions of President Claudia Sheinbaum, will transform Pemex into an operationally and financially sustainable company as soon as 2027.
He explained that an exclusive investment instrument has been created for Pemex’s 2025 investment program. This instrument serves to guarantee the necessary resources for strategic projects and mixed development schemes. He stressed that it includes evaluation of viability and projection of returns to ensure investment is recovered.
____________________
