Petróleos Mexicanos (Pemex) reported a fifth consecutive year of rising gasoline production in 2025, reaching 511,000 barrels per day, during the presentation of its 2026 plan. The company also disclosed that its debt hit the lowest level in 11 years and clarified details on crude oil sales to Cuba. These developments are part of the Mexican government's energy sovereignty strategy.
On February 4, 2026, during President Claudia Sheinbaum's morning press conference at Palacio Nacional, Pemex Director Víctor Rodríguez presented the company's 2026 plan. He highlighted that in 2025, the National Refining System produced 511,000 barrels per day of gasoline, an increase of nearly 60,000 barrels from 448,000 in 2024, and 397,000 barrels of diesel and turbosina, up 56,000 barrels annually. This marks a '180-degree turn' from 2020, when only 198,000 barrels of gasoline were refined daily amid the COVID-19 pandemic and without full operation of Dos Bocas and Deer Park refineries.
Pemex also cut its financial debt by 20 billion dollars since 2018, reaching the lowest level in 11 years, with a 20% reduction in 2025. Investments rose 34%, and credit ratings improved per Moody’s, Fitch Ratings, and Standard & Poor’s. Crude production stabilized with an annual increase of over 122,000 barrels per day, processing 1.5 million barrels daily, including Deer Park in Texas. The refining margin averaged 12 dollars per barrel, making it a profitable business.
Regarding sales to Cuba, Rodríguez clarified a commercial contract since 2023 totaling around 1,400 million dollars to date, with 496 million in 2025, accounting for less than 1% of crude production and 0.1% of Pemex's total sales. 'Of course they pay us!', he emphasized, confirming no debts from Cuba and that the contract is open, based on availability and needs. Sheinbaum defended the support: 'Mexico does not abandon anyone. Neither its people nor a people in suffering.' Facing U.S. tariff threats under Donald Trump, Mexico might halt commercial shipments but continue humanitarian aid.
Supplier debts were 'practically settled,' with payments over 390 billion pesos, prioritizing small businesses in Campeche, Tabasco, Veracruz, and Tamaulipas. Sheinbaum stressed: 'Today Pemex has recovered. Processing oil in Mexico is fundamental,' with eight refineries operating and reduced fuel imports.
