Pemex lowers its debt, improves its rating and generates confidence

The balance of the financial debt of Petróleos Mexicanos (Pemex) decreased by 20 billion dollars in 2025 compared to the level observed in 2018, the lowest figure in the last 11 years, said Víctor Rodríguez Padilla, general director of the company.

When presenting the progress of the Pemex Strengthening Plan 2025-2035 in the morning conference of President Claudia Sheinbaum Pardo, she recalled that during the neoliberal period Pemex’s debt grew 129 percent, a trend that has been reversed.

“It is not an isolated data, it reflects financial discipline, rigorous planning, operational efficiency and close coordination with the Ministry of Finance and Public Credit (SHCP) and the Ministry of Energy (Sener).”

Company data indicates that the financial debt went from 97.6 billion dollars in 2024 to 84.5 billion at the end of 2025. However, compared to the 105.8 billion dollars at the end of Enrique Peña Nieto’s six-year term, the estimated amount until last December represented a reduction of 20.1 percent.

Rodríguez Padilla highlighted that the work of the Treasury, Sener and Banobras to strengthen Pemex has been recognized by Moody’s, Fitch and Standard & Poor’s, the main rating agencies, because for the first time, in 11 years, the credit rating has improved.

“This recognition sends a clear signal to the markets: Pemex is a company that is increasing its financial strength, credibility and sustainability in the short and long terms.”

Luz Elena González Escobar, head of Sener, highlighted that the results presented “are very good,” as she recalled that during the neoliberal period Pemex became the most indebted oil company in the world.

Rodríguez Padilla commented that “another key element of financial strengthening is payment to suppliers”, since in September 2025 the Investment Financing Program was put into practice, with which 390 billion pesos in invoices were settled.

“This inter-institutional initiative has made it possible to normalize the operation, strengthen the production chains and regain the trust of thousands of companies that work with Pemex,” he indicated.

The official stressed that the amount of the payment of the debt with suppliers, which is different from the financial debt, covers practically all the delay reported in 2025, while in February the shortfall in 2024 will be covered.

The director of the oil company commented that the production of liquid hydrocarbons, which includes crude oil and condensates, stabilized, since in annual terms, national production increased by more than 122 thousand barrels per day, after growing to one million 800 thousand barrels per day in December.

He highlighted that crude oil processing reached 1.5 million barrels per day, data that considers the eight Pemex refineries. In addition, more high-value products with fewer residuals, such as fuel oil, are now produced.

González Escobar also highlighted that the integration of Pemex into a single company – after it was divided into several with the energy reform of 2013 – allows it to improve its operation and reduce costs.