As part of Mexico’s National Hydrocarbons and Natural Gas Strategy, President Claudia Sheinbaum unveiled a new fiscal framework for Petróleos Mexicanos (Pemex) called Derecho Petrolero para el Bienestar.
This regime establishes a 30% tax rate on oil production and an 11.63% rate for non-associated gas, aiming to bolster Pemex’s financial stability while channeling resources toward social welfare programs.
“This new system will enable Pemex to reinvest its revenues into operations while transparently contributing to public funds for the benefit of Mexican citizens,” Sheinbaum explained during her morning press conference, “Las mañaneras del pueblo.”
The measure will be included in the 2025 Economic Package, accompanied by legislative reforms and a Plan of Republican Austerity designed to save 50 billion pesos.
Strengthening Pemex as a State-Owned Enterprise
The new fiscal regime aims to simplify Pemex’s operations, reduce bureaucratic hurdles, and promote transparency by consolidating its numerous subsidiaries into essential entities.
Sheinbaum emphasized that mixed investment projects will be allowed in specific sectors, such as petrochemicals and fertilizers, without compromising energy sovereignty.
She criticized the neoliberal policies from 2007 to 2018, which burdened Pemex with a 129.5% debt increase without improving production metrics.
The Plan of Republican Austerity will focus on streamlining Pemex’s expenses while preserving workers’ rights.
“All labor protections will remain intact. This plan is about efficiency, not cutting jobs,” Sheinbaum assured.
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Sheinbaum Announces New Pemex Fiscal Regime
Energy Policy Prioritizing National Needs
Energy Secretary Luz Elena González outlined the broader objectives of the hydrocarbon strategy, emphasizing national consumption over exports.
The government plans to ensure a 10-year reserve-production ratio for hydrocarbons, increase domestic petrochemical output, and achieve energy self-sufficiency in gasoline and diesel through expanded refining capacity.
The strategy also includes the development of biofuels, clean energy sources, and enhanced storage capacity for fuels.
González reiterated that energy prices for consumers, including gasoline and LP gas, will remain stable over the next six years, with no increases beyond inflation.
Boosting Pemex’s Production and Sustainability
Pemex’s Director, Víctor Rodríguez Padilla, detailed initiatives to elevate the company’s status as a world-class state enterprise.
These include deploying advanced exploration techniques in shallow waters and onshore fields, raising hydrocarbon production to 1.8 million barrels per day, and boosting natural gas output to 5 billion cubic feet daily.
The company will also enhance gasoline and diesel production by 34%, supported by facilities like the Olmeca Refinery and Deer Park.
Plans include reopening the Cangrejera Complex to produce high-quality fuels and expanding petrochemical production at the Morelos Complex.
Fertilizer output will increase, targeting 2.2 million tons annually by 2030, ensuring agricultural self-reliance.
Rodríguez emphasized that all operations will incorporate sustainability measures, including treated water usage and emissions reductions, aligning with environmental goals.
During the press conference, Miguel Ángel Elorza Vásquez, coordinator of Infodemia, presented a “Lie Detector” segment addressing disinformation campaigns targeting Sheinbaum’s administration during her first month in office.
R. Sheinbaum Announces New Pemex Fiscal Regime