The Deer Park refinery in Texas, operated by Pemex, reported losses of 80 million dollars in 2025, marking the second consecutive year in the red since the oil company took full control in 2022. Crude and fuel production decreased due to maintenance works that required an investment of nearly 500 million dollars. Despite the losses, executives highlighted an improvement in operational reliability.
The Deer Park refinery, located in Texas and operated by Petróleos Mexicanos (Pemex), ended 2025 with losses of 80 million dollars, accumulating two consecutive years in the red since the acquisition of full control in 2022. Pemex obtained the 50.005 percent stake from Shell that year, which initially produced positive results: profits of 954 million dollars in 2022 and 581 million in 2023. However, in 2024 losses of 118 million dollars were reported, a trend that continued in 2025 due to a major maintenance that involved an investment of nearly 500 million dollars, as explained by Pemex's general director, Víctor Rodríguez Padilla, in October 2025. This 'major surgery' temporarily impacted operational performance, reducing production to an average of 261.3 thousand barrels per day of crude oil, a 3.9 percent decrease from the previous year. The production of gasolinas, diesel, and turbosina reached 240 thousand barrels per day, with a 6.3 percent drop. Despite this, Adán Enrique García, general director of PMI Comercio Internacional, stated in an investor conference that Deer Park achieved its best reliability level in the last three years, even with reduced capacity during half of the fourth quarter. 'All units of the complex restarted operations safely and began operating according to the planned capacity, with a focus on optimizing and profitability of the complex,' García indicated. Additionally, the refinery remained self-sufficient without needing credit lines and applied discipline in expense control. Market factors, such as the gradual startup of new facilities, scheduled maintenance, and sustained reduction in fuel inventories, support solid refining margins for the next two years, according to the executive.
