Last Friday, the credit rating agency Fitch Ratings upgraded Pemex’s long-term issuer default ratings in both foreign and local currency from B+ to BB, with a stable outlook. This two-notch upgrade reflects the strong support provided by the Government of Mexico and underscores the confidence generated by its firm commitment to Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company. The decision aligns with Fitch’s criteria for Government-Related Entities (GREs).
Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company, reports its financial and operating results for the second quarter of 2025. The data reflect the positive impact of a strategy focused on efficient resource use and institutional strengthening.
Liquid hydrocarbons production averaged 1,638 thousand barrels per day, while natural gas production reached 3,592 million cubic feet per day.
Crude oil processing stood at 987 thousand barrels per day, driving petroleum product output to 1,034 thousand barrels per day.
Based on these operating results, Pemex recorded a net income of 60 billion MXN.
The line 4 of the Cablebús project, connecting Tlalpan and Coyoacán in Mexico City, spans 11.4 km and will transport 65,000 people per day in just 40 minutes.
Among its advantages, it will provide multiple connections across Mexico City, including service to 30 neighborhoods in Tlalpan, 9 neighborhoods in Coyoacán and notably, the National Autonomous University of Mexico (Ciudad Universitaria).
Source: Ministry of Infrastructure, Communications, and Transport (Secretaría de Infraestructura, Comunicaciones y Transportes, SICT)
https://www.proyectosmexico.gob.mx/wp-content/uploads/2025/07/N_Cablebus1.png204610lveracanhttps://www.proyectosmexico.gob.mx/wp-content/uploads/2017/03/LogoMPH_Alta-e1657506734182.pnglveracan2025-07-29 14:02:292025-07-30 11:24:27Line 4 of the Cablebús in Mexico City - 11.4 km
One of the main regulatory changes was the transformation of the decentralized body Rail Transport Regulatory Agency (ARTF), previously under the Ministry of Infrastructure, Communications, and Transport (SICT), which led to the creation of the new Integrated Trains and Public Transportation Agency (ATTRAPI). This new agency will function as a decentralized body with legal personality, its own assets, and technical and operational autonomy, and will remain under the purview of the SICT.
https://www.proyectosmexico.gob.mx/wp-content/uploads/2025/02/N_Trenes-pasajeros.png203610lveracanhttps://www.proyectosmexico.gob.mx/wp-content/uploads/2017/03/LogoMPH_Alta-e1657506734182.pnglveracan2025-07-15 12:12:362025-07-16 11:11:13Creation of the Integrated Trains and Public Transportation Agency
In addition, 15 passenger trains for the Mexico–Pachuca route will be tendered; the call for bids will be published tomorrow, July 10.
It was noted that the goal of building the Mexico–Nuevo Laredo and Mexico–Nogales train routes is to connect the central and northern regions of the country.
President Claudia Sheinbaum Pardo announced that construction of the Querétaro–Irapuato and Saltillo–Nuevo Laredo trains will begin in September, with bidding processes to be awarded in August. Additionally, 15 trains for the Mexico–Pachuca route will be tendered tomorrow, July 10, demonstrating that the State is regaining its capacity to provide railway transportation for the people of Mexico.
https://www.proyectosmexico.gob.mx/wp-content/uploads/2025/07/N_TREN.png203610lveracanhttps://www.proyectosmexico.gob.mx/wp-content/uploads/2017/03/LogoMPH_Alta-e1657506734182.pnglveracan2025-07-11 15:12:442025-07-14 09:42:05In August, bidding processes for the Querétaro–Irapuato and Saltillo–Nuevo Laredo trains
Fitch Upgrades Pemex Rating to BB
Last Friday, the credit rating agency Fitch Ratings upgraded Pemex’s long-term issuer default ratings in both foreign and local currency from B+ to BB, with a stable outlook. This two-notch upgrade reflects the strong support provided by the Government of Mexico and underscores the confidence generated by its firm commitment to Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company. The decision aligns with Fitch’s criteria for Government-Related Entities (GREs).
Source: Ministry of Finance and Public Credit
Go to press release
Pemex Reports Second Quarter 2025 Results
Petróleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company, reports its financial and operating results for the second quarter of 2025. The data reflect the positive impact of a strategy focused on efficient resource use and institutional strengthening.
Source: Pemex
Go to press release
Line 4 of the Cablebús in Mexico City – 11.4 km
The line 4 of the Cablebús project, connecting Tlalpan and Coyoacán in Mexico City, spans 11.4 km and will transport 65,000 people per day in just 40 minutes.
Among its advantages, it will provide multiple connections across Mexico City, including service to 30 neighborhoods in Tlalpan, 9 neighborhoods in Coyoacán and notably, the National Autonomous University of Mexico (Ciudad Universitaria).
Source: Ministry of Infrastructure, Communications, and Transport (Secretaría de Infraestructura, Comunicaciones y Transportes, SICT)
Go to press release
Creation of the Integrated Trains and Public Transportation Agency
One of the main regulatory changes was the transformation of the decentralized body Rail Transport Regulatory Agency (ARTF), previously under the Ministry of Infrastructure, Communications, and Transport (SICT), which led to the creation of the new Integrated Trains and Public Transportation Agency (ATTRAPI). This new agency will function as a decentralized body with legal personality, its own assets, and technical and operational autonomy, and will remain under the purview of the SICT.
Source: Center for Public Finance Studies
Go to press release
In August, bidding processes for the Querétaro–Irapuato and Saltillo–Nuevo Laredo trains
President Claudia Sheinbaum Pardo announced that construction of the Querétaro–Irapuato and Saltillo–Nuevo Laredo trains will begin in September, with bidding processes to be awarded in August. Additionally, 15 trains for the Mexico–Pachuca route will be tendered tomorrow, July 10, demonstrating that the State is regaining its capacity to provide railway transportation for the people of Mexico.
Source: Presidency of the Republic
Go to press release