Overview
- Pemex said it processed 1.27 million barrels of crude per day in 2025, the highest level in its latest operational statistics.
- Production of high-value distillates such as gasoline, diesel and jet fuel rose by 177,000 barrels per day year over year.
- Refining economics improved, with an average 2025 variable margin of $12 per barrel and gasoline, diesel and jet fuel sales up about 8% from July to December.
- The firm set goals to lift processing to 1.56 million barrels per day and raise distillate yield toward 80%, noting the need for public and mixed investment, maintenance and modernization.
- Officials noted the policy backdrop as Mexico paused oil shipments to Cuba after a U.S. tariff threat, following about $496 million in Pemex crude exports to the island last year.