Pemex Will Receive Support from the 2027 Economic Package

The Ministry of Finance and Public Credit (SHCP) stated that Petróleos Mexicanos (Pemex) is in line with the provisions of its Strategic Plan, indicating that it will not yet require financial transfers from the government next year.

According to the oil company’s Strategic Plan, starting in 2027, the company expects to become self-sufficient; however, the 2027 Economic Package proposes a budget line item of US$4.7 billion, which will alleviate its financial burden.

"There is a reduction in the budget line item of 263.81 billion pesos. I believe this is a very good example of the success of the two operations carried out in previous fiscal years to provide financial assistance to Pemex. As you may recall, the purpose of this budget line item is to meet the company’s financial obligations, and the fact that we are reducing it indicates that we are on the right track toward Pemex’s financial and operational sustainability. Once again, we must proceed gradually and responsibly where necessary; we also need to carefully consider the strategy for Pemex,” said Édgar Amador Zamora, Secretary of Finance.

The federal government’s 2027 Economic Package projects a financial surplus of US$5.6 billion for Pemex, supported by the transfer the government will make to the oil company. Without these transfers, the surplus will be US$830.6 billion.

The support will be subject to the condition that Pemex must demonstrate an equivalent improvement in the company’s financial balance sheet, so that this does not increase the consolidated budget deficit between the federal government and Pemex.

“I think this is a very good sign. It's a sign that Pemex now needs a subsidy—or, let's say, much less support—to carry out its program and strategic plan, and that we're on the right track,” said Amador Zamora.

Thus, Pemex would have access to this budget line item for the fourth consecutive year, even though its Strategic Plan projected self-sufficiency by 2027.