Pemex expects that at the end of 2025 the balance of short-term debt will be reduced by approximately 32 percent, the total financial debt will decrease 10 percent compared to 2024 and the goal of zero net debt will be maintained.
Mexico City, October 27 (However).– Mexican Petroleum (Pemex) announced this Monday his third quarter report (July, August and September) of 2025, in which losses of 61 thousand 242 million pesos stand out, although compared to the same period in 2024 their losses were reduced by 62 percent, this due to lower sales costs and deterioration of fixed assets, as well as the influence of the exchange profit.
During this period, the production of liquid hydrocarbons from Pemex averaged 1.65 million barrels per day, while natural gas production reached 3.73 billion cubic feet per day, with notable growth in non-associated gas, detailed in its report sent to the Mexican Stock Exchange (BMV).
The crude oil process reached one million barrels per day, “driven by the continuous operation of the National Refining System and the Olmeca Refinery,” said the parastatal company. “As a result, oil production stood at just over one million barrels per day, with 62 percent corresponding to high-value distillates such as gasoline, diesel and jet fuel,” he concluded.
On a financial level, income from sales and services at Pemex amounted to 378 billion pesos, 11.1 percent lower than the same period of the previous year, attributable to lower international crude oil prices, among others.
However, the cost of sales was reduced 10.3 percent, as a result of the efficient use of resources, the parastatal boasted. The combination of these factors led to a gross performance of 37 billion pesos in the third quarter of 2025 and an improvement of almost 100 billion pesos in the net result, compared to the same period in 2024.
In terms of sustainability, Pemex strengthened its commitment to sustainability and social responsibility. Energy consumption was reduced by 4.2 percent, and industrial safety indicators improved with a 17 percent decrease in the frequency of accidents and a 44 percent decrease in their severity, “reflecting effective preventive management.”
In addition, 639 million pesos were invested in social programs aligned with the Sustainable Development Goals, and nearly two thousand workers were trained in ethics, transparency and compliance, strengthening corporate governance.
Pemex also advanced in the execution of its Comprehensive Capitalization and Financing Strategy, designed and operated in coordination with the Ministry of Finance and Public Credit and the Ministry of Energy, and contained in the 2025 – 2035 Strategic Plan, presented in August.
Pemex reported among its most relevant actions the operation for 11.3 billion dollars using United States Treasury bonds as collateral, the 2025 Investment Financing Program, for 250 billion pesos, which began payments to suppliers in September, and the repurchase of bonds for up to 9.9 billion dollars.
With the implementation of the Strategy, he highlighted, it is estimated that at the end of 2025 the balance of short-term debt will be reduced by approximately 32 percent, the total financial debt will decrease 10 percent compared to 2024 and the objective of zero net debt and regularization of payments to suppliers will be maintained at the end of the administration.
Pemex also highlighted that the financial stability achieved in the parastatal “has been recognized by rating agencies”, such as Fitch Ratings, which improved Pemex’s credit rating by three levels, going from B+ to BB+ with a stable outlook.
Moody’s, for its part, raised the long-term rating from B3 to B1, also with a stable outlook. S&P Global Ratings maintained the rating at BBB, backed by the sovereign link. “These improvements strengthen investor confidence and expand the company’s financing options under more competitive conditions,” Pemex said.
Signing of mixed contracts announced for the end of 2025
Pemex also announced this Monday that it expects the first dozen mixed oil exploration and exploitation contracts to be signed by the end of this year, according to the parastatal’s directors.
“It is planned to sign the first stage of mixed contracts towards the end of 2025,” declared the director of exploration and production of Pemex, Ángel Cid, during a call with analysts about Pemex’s financial results for the third quarter, the specialized site reported. Bloomberg.
For his part, the director of Pemex, Víctor Rodríguez Padilla, pointed out that, in the third quarter of this year, “Pemex received 10 assignment titles for mixed contracts in onshore, shallow and deep water areas and we began the selection process and around 40 companies have expressed their interest in participating.”
“Pemex has made adjustments to the contract model, so it is planned to sign the contracts at the end of this year,” said Rodríguez Padilla in the same call.
Already at the end of September, Pemex awarded Grupo Carso, owned by businessman Carlos Slim, the richest in the country, a contract worth 1,991 million dollars to complete the construction of 32 oil wells in the Ixachi field.
Grupo Carso will work with its subsidiaries GSM Bronco and MX DLTA NRG 1 to complete these works, for which payment will be made when the 32 wells are successfully completed. If fewer wells are drilled, the contract value will be adjusted.
The business conglomerate detailed in a statement that Petróleos Mexicanos will begin paying monthly for each well delivered until January 2027.
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