Overview
- Claudia Sheinbaum says pipeline tapping and tax‑evading fuel imports have decreased, pointing to higher documented sales by Pemex and permitted private importers.
- She acknowledges huachicol remains a risk to Pemex’s sales, referencing the company’s disclosure to the U.S. Securities and Exchange Commission.
- Pemex’s filing identifies fuel theft, illicit fuel markets and criminal trafficking as principal operational threats that continue to affect its operations.
- The company reports 11,774 clandestine taps in 2024 and 14,890 in 2023, indicating persistent illegal tapping despite security efforts.
- Pemex details $100.3 billion in debt as of September 30, 2025, cautions that government support may not persist, and flags risks from concentrated political power and possible limits on converting pesos to U.S. dollars.