Overview
- Pemex reported first‑quarter 2026 financial debt of $79.037 billion, down 7.3% from year‑end and 30.2% below the December 2020 peak.
- The drop followed a 2025 Finance Ministry plan that used an $11.3 billion U.S. Treasuries repo, bond buybacks of up to $9.9 billion, and $2 billion in early repayments.
- In Q1 2026 the company also booked federal support that included 58,346 million pesos in contributions and 21,420 million recorded as a Treasury document.
- Operations stayed weak in Q1 2026 with a net loss of 45,992 million pesos as export sales fell 25.3% and crude shipments slid 38.8% to 405,000 barrels per day.
- Pemex returned to the local market in February with a 31,500 million peso note sale after nine years away, though analysts say recent gains rely on state backing rather than steady cash generation.