Pemex Unveils 1.8 Trillion Peso Investment Strategy Through 2030
State-owned oil giant targets production growth and infrastructure upgrades to ensure national energy sovereignty.
1Strategic Investment Roadmap
Pemex director Juan Carlos Carpio Fragoso announced a 1.8 trillion peso investment plan spanning through 2030. The strategy prioritizes exploration and production across 305 fields, including Maloob and Zaap. Funds are also allocated for maintaining seven refineries and expanding petrochemical capacity, aiming to quintuple fertilizer production by the decade's end.
2Production and Refining Targets
The company aims for a technical production target of 1.8 million barrels per day. Of this, 1.45 million barrels will support domestic refining to meet national fuel demand. Pemex plans to export 300,000 barrels daily to maintain financial balance, noting that refined fuel yields 3.5 times the value of crude exports.
3International Collaboration Efforts
To bolster deep-water exploration, Pemex is formalizing alliances with global energy firms. Current partnerships include agreements with Petrobras, ENI, and BP. These collaborations are essential for the Trión field in the Gulf of Mexico, where the company expects to extract its first oil by December 2027 to boost output.
4Financial Support and Debt
The federal government will provide 81 billion pesos in 2027 to support the company. This follows a 263 billion peso transfer in 2026, which was strictly utilized for debt repayment. Despite these injections, the firm maintains a focus on using its own resources to fund the majority of its operational investments.
5Supplier Payment Challenges
Pemex paid over 952 billion pesos to suppliers between 2025 and 2026, with 74% coming from internal funds. While 2025 debts are 99% covered, 2024 arrears remain, with plans for settlement in 2027. Lawmakers expressed concern that payments favor large corporations over smaller local enterprises in regions like Campeche and Tabasco.
6Refining and Infrastructure Upgrades
The Olmeca refinery in Dos Bocas has increased production from 87,000 to 198,000 barrels daily. Ongoing projects include residual utilization at Salina Cruz and coking drums at Cadereyta, Madero, and Minatitlán. These upgrades aim to maximize the output of high-value products like gasoline and diesel for the domestic Mexican market.
7Non-Conventional Gas Exploration
Pemex is evaluating non-conventional gas extraction to strengthen energy sovereignty. A specialized committee is overseeing the process, which recently initiated a test well for brackish water in Coahuila. This analysis determines if non-potable water can be safely utilized for hydraulic fracturing without contaminating local aquifers or essential water sources.
8Long-term Energy Sovereignty
The 2025-2035 Strategic Plan, presented by President Claudia Sheinbaum, guides these efforts toward sustainability and justice. By 2030, Pemex expects to supply 85% to 90% of national demand for high-value fuels. The company remains committed to transparency regarding its logistical systems and the rehabilitation of petrochemical complexes like Morelos and Cangrejera.