Debt Falls to 11-Year Low Amid Production Gains

Petróleos Mexicanos closed the first four months of 2026 with its lowest debt in 11 years and five straight quarters of flat crude production. The company's debt now stands at $79 billion, a 20.1 percent drop from 2018.

New Chief Executive Juan Carlos Carpio Fragoso unveiled the results in early June at an oil industry conference. According to El Financiero, liquid hydrocarbon output climbed from 1.621 million barrels per day in February 2025 to 1.652 million by April 2026, a 2 percent rise. Condensate production surged 13.1 percent over the same span, boosting Mexico's domestic gasoline and diesel availability.

Refining Capacity Surges, Imports Plummet

The National Refining System processed 1.141 million barrels per day of crude in the first quarter, up 22.2 percent year-over-year, according to Pemex's official bulletin. Gasoline output hit 390,000 barrels daily while diesel reached 286,000 barrels daily, increases of 29.6 percent and 69.9 percent respectively. Automotive fuel imports fell 23.3 percent during the period.

Investment Push Targets Production Stability

Pemex's strategic plan allocates 425 billion pesos in productive investment for 2026, 34 percent higher than the prior year. The company aims to stabilize crude output near 1.8 million barrels daily as a six-year average.

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