Last Review: May, 2025
Banobras offers interested parties information on the sector in Mexico with data from various sources in order to provide knowledge on the subject and useful elements for decision-making at the sectoral level. The content presented does not reflect the position of Banobras.
Guidelines for Mixed Development Schemes of the State-Owned Enterprise, Mexican Petroleum (PEMEX). Consult
Current status
The National Strategy for the Hydrocarbons and Natural Gas Sector aims to continue strengthening the planning and regulation of the sector, ensuring strict compliance with national energy policy. The Petroleum Rights for Welfare is the new fiscal regime for Petróleos Mexicanos (PEMEX), set at 30% for oil and 11.3% for non-associated gas.
Key strategic lines for the 2024-2030 period include:
- Saving MXN 50 billion by eliminating redundant expenses.
- Integration into a single company, financial strengthening, increased productivity, and operational efficiency.
- Commitment to sustainability.
- Use of new exploration techniques in shallow waters of the Gulf of Mexico and onshore fields in southeastern Mexico to maintain, restore, and increase reserves for 10 years of consumption.
Source: SENER, Oil Platform, Campeche Sound, PEMEX
- Hydrocarbon production is projected to remain at 1.8 million barrels per day (bpd), prioritizing strategic fields such as Zama and Trion.
- Natural gas production is expected to increase to 5 billion cubic feet per day during the current administration.
- Refining capacity will grow by 343 thousand bpd (a 34% increase) in gasoline, diesel, and jet fuel production to achieve self-sufficiency.
- The Deer Park refinery aims to reach a processing level of 285 thousand bpd, while major maintenance works will continue across the National Refining System to ensure profitability across all refineries.
- Storage capacity for petroleum products will be expanded.
- Petrochemical production will be strengthened through joint projects ensuring PEMEX ownership.
- Production of ammonia and carbon dioxide for fertilizer manufacturing will increase by 2.2 million tons annually.
On January 29, 2025, secondary laws of the energy reform were presented, aiming to strengthen PEMEX and CFE as state-owned enterprises.
With these secondary laws, SENER will regain control over binding energy sector planning, and private subsidiaries within both companies will be dissolved (PEMEX previously had three subsidiaries and nearly 50 affiliates).
For the hydrocarbons sector, reforms aim to strengthen PEMEX, prioritizing exploration and extraction areas, and granting the option to partner with private entities through joint development contracts. Additionally, hydrocarbon traceability will be improved, mandating data reporting from fuel entry to gas station distribution.
Investment Schemes
For exploration and extraction, PEMEX will complement its traditional assignment model with joint development contracts, allowing the company to enhance its capabilities and financing.
PEMEX has achieved stabilization and growth of proven crude oil and gas reserves, progress in rehabilitating the National Refining System, construction of large-scale projects to increase crude processing capacity for gasoline, diesel, and jet fuel production, reactivation of fertilizer production chains, and gradual recovery of the national fuel market.
At the end of 2023, PEMEX reported a net profit of MXN 8.15 billion and an EBITDA of MXN 355.47 billion.
As of June 2024, PEMEX’s modified budget amounts to MXN 408.2 billion, allocated as follows:
- MXN 310.7 billion for oil and gas exploration and production
- MXN 79.4 billion for refining, gas, and petrochemical transformation
- MXN 15.4 billion for logistics
- MXN 2.7 billion for corporate operations[1]
Hydrocarbons
The hydrocarbons industry chain includes three main stages: Exploration and Production, Logistics, and Industrial Transformation: [2]
Exploration and Production (Upstream)
- Producing fields: 261
- Crude oil production: 1.936 million bpd
- Natural gas production: 1.823 billion cubic feet per day
- Average exploration wells: 5,553
- Offshore platforms: 304
Logistics (Midstream)
- Storage and dispatch terminals: 73
- LPG distribution terminals: 10
- Oil pipelines: 5,777 km
- Multiproduct pipelines: 8,926 km
- Fuel oil pipelines: 100 km
- Jet fuel pipelines: 66 km
Industrial Transformation (Downstream)
- Gas processing complexes: 9
- Refineries: 7
- Petrochemical complexes: 6
For more information on the sector, the Energy Information System (SIE)* responsible for national energy policy. This portal offers official statistical data validated by sector entities (registration required for access)*..
[1] Sixth Activity Report of the Ministry of Energy, 2023–2024.
[2] PEMEX Statistical Yearbook, 2022.
The National Hydrocarbons Commission makes available to the public the portal of technical information generated throughout Mexico’s oil history:*:
*Map under review due to changes in the organizational structure.
Institutional Arrangement
In terms of infrastructure, Mexico has a defined strategy that offers investors medium and long-term visibility regarding the development of projects, through a series of plans and programs of national and sectorial scope. To access the information, please consult the following documents:
Energy Sector Program 2020-2024
Five-Year Bidding Plan for Hydrocarbon Exploration and Extraction 2020-2024
PEMEX Business Plan and Subsidiaries 2023-2027
Five-year SISTRANGAS Expansion Plan 2020-2024
Description of the hierarchy and roles of the different entities and actors involved in the sector, including how the different institutions and agencies coordinate and collaborate.
Legal system
The compilation of international treaties, laws, regulations, decrees, agreements and federal, state and municipal provisions shown here are for informational purposes and for ease of reference:
ENERGY
Public Works and Related Services Law
PEMEX
Hydrocarbons Sector Law
State-Owned Enterprise Law – Mexican Petroleum (PEMEX)
Mexican Petroleum Fund for Stabilization and Development Law
Biofuels Law
National Energy Commission Law
Hydrocarbons Revenue Law
Planning and Energy Transition Law
Source: Sixth Work Report, SENER. Vessel Kukulcan, Mexican Pacific, PEMEX.
Investment cycle
The following section provides an overview of the project development process from initial planning to final execution.
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1
Exploration and Production
Based on the objectives and strategies defined in the Five-Year Bidding Plan for the Exploration and Extraction of Hydrocarbons 2020-2024, SENER prepares the short, medium and long term sectorial programs for the development of energy resources in the country.
Transportation and Logistics | Refining
Based on the objectives and strategies defined in the Energy Sector Program (PROSENER), SENER prepares the short, medium and long term sector programs for the development of energy resources in the country.
2
Exploration and Production
Based on the planning documents, SENER, together with the CNH and PEMEX, identifies the exploration and production projects to be developed.
Transportation and Logistics
Based on the planning documents, SENER together with CENAGAS and PEMEX identifies the transportation projects to be developed.
Refining
Based on the planning documents, SENER together with PEMEX identifies the industrial transformation projects to be developed.
3
Exploración y Producción
SENER y CNH, con el apoyo técnico de PEMEX Exploración y Producción, elaboran, por su cuenta o con el apoyo de consultores externos, los estudios y análisis necesarios para el desarrollo de los proyectos.
Transporte y Logística
SENER y CRE con el apoyo técnico de PEMEX Logística y CENAGAS elaboran, por su cuenta o con el apoyo de consultores externos, los estudios y análisis necesarios para el desarrollo de los proyectos.
Refinación
SENER, con el apoyo técnico de PEMEX, elabora por su cuenta o con el apoyo de consultores externos, los estudios y análisis necesarios para el desarrollo de los proyectos.
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Exploration and Production
The CNH registers the projects to be developed.
Transportation and Logistics
SENER sends to the SHCP’s Investment Unit the request for registration in the portfolio of transportation projects that require resources from the Federal Expenditure Budget.
Refining
SENER sends to the SHCP’s Investment Unit the request for registration in the portfolio of industrial transformation projects that require resources from the Federal Expenditure Budget.
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Exploration and Production
Projects requiring federal budgetary resources must be analyzed by the SENER, with technical recommendations from PEMEX and the CNH, which determines the relationship for inclusion in the PEF.
Transportation and Logistics
The CRE has the power to grant and, if applicable, cancel permits and authorizations for the storage, transportation and distribution of oil, natural gas and petroleum products, as well as ethane, propane, butane and naphtha transported exclusively by pipeline.
Refining
Projects requiring federal budgetary resources must be analyzed by the SENER, with technical recommendations from PEMEX, which determines the relationship for their inclusion in the PEF.
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Exploration and Production
Both SENER and CNH have the power to grant permits and authorizations for reconnaissance and surface exploration.
Transportation and Logistics
Projects requiring federal budgetary resources must be analyzed by SENER, with the technical recommendations of the CRE and CENAGAS, who determine the relationship for their inclusion in the PEF.
Refining
The SENER has the power to grant permits and authorizations for the industrial transformation of hydrocarbons.
7
Exploration and Production
In charge of SENER and CNH.
Transportation and Logistics
In charge of SENER and CENAGAS.
Refining
Under the responsibility of SENER.
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Exploration and Production
It is in charge of the CNH, following the technical guidelines of the SENER and the fiscal economic conditions established by the SHCP. The terms of reference may be consulted in the CNH’s web page.
Transportation and Logistics
It is in charge of the CRE and CENAGAS, following SENER’s technical guidelines.
Refining
Not applicable, since in industrial transformation matters only agents external to PEMEX participate as investors. In these cases SENER will grant permits either to PEMEX or individuals to carry out oil treatment and refining activities as well as natural gas processing.
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Exploration and Production
There are several sources of financing depending on the particular characteristics and financial structuring of each project such as: PEF, commercial banking, developers and institutional and private investors.
Transportation and Logistics
There are different sources of financing depending on the particular characteristics and financial structuring of each project, such as: PEF, commercial banks, developers and institutional and private investors: PEF, commercial banking, developers and institutional and private investors.
Refining
There are different sources of financing depending on the particular characteristics and financial structuring of each project, such as: equity, commercial banks, developers, and institutional and private investors.
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Exploration and Production | Transportation and Logistics
Carried out by PEMEX, operators and/or awarded developers, who are supervised by the CNH and SENER according to the terms of the contract.
Refining
Carried out by PEMEX, authorized operators and/or developers, who are supervised by SENER.
Projects
Information on new projects (pre-investment, bidding and execution) and in operation within the Mexico Projects Hub platform, which at some stage of the project were considered investment opportunities and do not necessarily have Banobras / Fonadin participation.
New Projects
Projects in Operation
Banobras / Fonadin
Project Finance: In order to support the financing of infrastructure projects and public services, the Project Finance Unit structures financing supported by the granting of loans and guarantees to those projects developed as Public-Private Partnerships and which have their own source of payment from the exploitation of the concession or public contract or from the collection of the service in question. The Public-Private Partnership schemes may be Federal and/or Local, in their different modalities, such as: Concessions, Service Provision Projects (PPS) or Financed Public Works Contracts, among others.
Financing for States and Municipalities and Decentralized Public Organizations: The products and services are designed to meet the infrastructure needs of states, municipalities and their decentralized public organizations, in order to improve the quality of life of the population and increase competitiveness.
Infrastructure is a pillar of development, which is why Banobras has innovative products and services focused on contributing to regional development through the promotion of financial mechanisms to:
- Boost investment in infrastructure and public services.
- Promote the financial and institutional strengthening of states, municipalities and decentralized public agencies.
To this end, Banobras has the following financing schemes:
Products:
Project Development: Banobras offers services aimed at assisting public sector agencies and entities in the development of infrastructure projects.
Financial structuring of the project:
- Elaborate and/or update studies required by the Public-Private Partnerships Law.
- Support in the review of the bidding conditions and contract model.
- Assist in obtaining financing for the project.
- Assist in the registration process of the project in the portfolio of the Investment Unit of the Ministry of Finance and Public Credit (SHCP).
- Assist in dealing with any observations made by the SHCP Investment Unit.
- Support in the financial closing of the project.
The purpose of the Fondo Nacional de Infraestructura (Fonadin) is to serve as the Federal Public Administration’s coordination vehicle for infrastructure investment. It has one of the largest road concession networks in the world and manages the granting of financial support for infrastructure development, mainly in the areas of communications, transportation, water, environment, energy, tourism, urban and strategic and priority areas, supporting the planning, promotion, construction, conservation, operation and transfer of infrastructure projects with social impact and economic or financial profitability.
It has a wide range of products designed to strengthen the financial structure of the infrastructure projects that the country requires, from the conception to the completion of the projects, providing the following financial instruments that make the projects more attractive for financing with private resources:
Recoverable Support
- Simple Credits
- Subordinated Credits
- Guarantees
- Investments in Venture Capital Funds
- Infrastructure Trust Investments
- Financing of Studies and Advisory Services
Non Recoverable Support
- Contributions for Studies and Consultancy
- Contributions for Projects
- Project Grants
Contact: fonadin.energia@banobras.gob.mx
Sustainability
Banobras makes available to interested parties, analysis sheets for the detection of sustainability practices in infrastructure projects, in accordance with the methodological framework “Attributes and Framework for Sustainable Infrastructure” of the Inter-American Development Bank (IDB). Its objective is to highlight sustainable practices, encourage their adoption in future projects and provide relevant information for investors in their economic, environmental, social and institutional dimensions.
To consult the projects that already have a sustainability record, select the “SEARCH CRITERIA>” option in the PROJECTS section, and then select “With Sustainability Analysis”; the projects that have a record will be displayed below.
In addition, Banobras offers an analysis tool that presents the potential relationship of the different infrastructure projects of the Mexico Projects platform with the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda and their targets. This comparative analysis facilitates the use of data according to different criteria, such as the potential impact of projects and sectors against national and global development goals.
The comparison is only made between projects in the same subsector. To select and consult here.
The alignment of a project with the SDGs provides information on the degree of focus on sustainability; it provides a comparison between projects in the same sector and sub-sector and facilitates investment decisions, showing the highest and lowest alignment of projects to the SDGs. Comparative analysis facilitates the use of data according to different criteria, such as the potential impact of projects and sectors against national and global development goals.
In the case of the sector, 27 projects are identified in the platform that have sustainability practices detection sheets, which allows to know, among other things, the projects with more and better alignments to the SDGs. For more information, access the Sustainable Development Goals application:
Greater alignment of the sector:
- SDG 9: Industry, innovation and Infrastructure
- SDG 8: Decent Work and Economic Growth
- SDG 11: Sustainable Cities and Communities
Lower alignment of the sector:
- SDG 2: Zero Hunger
- SDG 5: Gender Equality
- SDG 10: Reduced Inequalities
Ally Networks
Banobras, through its Ally Networks application, provides information on companies participating in competitive public procurement processes for infrastructure projects in Mexico, based on official sources such as ComprasMX. It includes details on investment amounts, number of participations in bids, projects awarded, consortiums, and business associations, which allows the user to identify potential actors for the establishment of investments in the country.
To consult the projects that have information on the participating companies, select the option “SEARCH CRITERIA>” in the PROJECTS section, and then select “With applicant companies” at the end of the criteria.
In the application, you can consult on the sector:
- 106 projects
- 197 companies
- 177 consortiums
Reference documents:
This section offers documents, reports and reports with technical, statistical and regulatory information on the sector:
Official statements:
2025
- Apr. 22, 2025 Mexican Petroleum (PEMEX): Guidelines for Mixed Development Schemes of the State-Owned Enterprise
- Mar. 18,2025 DOF: DECREE issuing the Law on State-Owned Enterprises, Federal Electricity Commission; the Law on State-Owned Enterprises, Petróleos Mexicanos; the Electricity Sector Law; the Hydrocarbons Sector Law; the Energy Planning and Transition Law; the Biofuels Law; the Geothermal Energy Law; and the National Energy Commission Law; amending various provisions of the Law on the Mexican Petroleum Fund for Stabilization and Development; and amending, adding, and repealing various provisions of the Organic Law of the Federal Public Administration..
- Mar. 18,2025 DOF: DECREE amending, adding, and repealing various provisions of the Hydrocarbons Revenue Law.
- Feb. 12, 2025 PEMEX: Presentation of the 2025–2030 Work Plan.
- Jan. 29, 2025 SENER: Secondary Legislation on Energy – PEMEX and CFE as Companies of the People of Mexico.
- Jan. 29, 2025 Government of Mexico: CFE and PEMEX are once again of the people of Mexico: President signs secondary legislation that reverses the 2013 energy reform.
2024
- DOF: DECREE amending the fifth paragraph of Article 25, the sixth and seventh paragraphs of Article 27, and the fourth paragraph of Article 28 of the Political Constitution of the United Mexican States, regarding strategic areas and state-owned enterprises.
- DOF: DECREE amending, adding, and repealing various provisions of the Political Constitution of the United Mexican States, regarding organizational simplification.
Additional information:
2024
- PEMEX: Petroleum Statistics – August 2024.
- PEMEX: Oil Revenue for Wellbeing.
- PEMEX: Strategic Guidelines for the 2024–2030 Period.
- SENER: 2024 Evaluation of the Execution of the Five-Year Bidding Plan for Hydrocarbon Exploration and Extraction 2020–2024.
- SENER: Active Permits for the Production, Commercialization, and Transportation of Bioenergetics by Means Other Than Pipelines.
