Mexico Revises Oil Production Down

The Ministry of Finance and Public Credit (SHCP) contemplates that Petróleos Mexicanos (PEMEX) exports 765,400 barrels of crude oil per day during 2025, which would represent a ‘scijerazo’ of 5.1 percent compared to what was observed in 2024, according to the Pre-Criterios 2026 published by the dependence.This would be the second consecutive year in which Mexico cut crude exports, since, in 2024, sales decreased by 21.9 percent at annual rate.If…

Mexico Revises Oil Production Down

Mexico’s finance ministry has revised the country’s crude oil production rate for the year by 129,000 bpd less than previously expected. Instead of 1.8 million bpd—the target set by President Claudia Sheinbaum—Mexico is seen producing 1.762 million bpd, Reuters reported, citing the ministry. Production next year, however, is expected to rise to 1.775 million barrels daily as a result of “development of new strategic projects and the eventual inc…

The Mexican energy sector is undergoing a drastic transformation, announced on the 87th anniversary of the oil expropriation of Lázaro Cárdenas. “These new secondary laws will substantially modify the course charted by the energy reforms of 2013, which opened the industry to private and foreign investment,” says W. Schreiner Parker, director general for Latin America of Rystad Energy. Related:Mexico publishes “all laws” that recover the “essence…

Finance reduced the oil production target by 2025 to 1,762 million bpd. Pemex faces productive decline, high debt and persistent operational challenges. The Government of Mexico reduced its estimate of crude oil production by 2025 to 1,762 million barrels per day (bpd), moving away from the official target of 1.8 million bpd set by the administration of Claudia Sheinbaum. The adjustment, contained in the Precriteria de Política Económica 2026, r…