Pemex’s latest five-year plan anticipates domestic crude production growing
Pemex to struggle with ambitious targets
The latest five-year plan compounds pressure on the already financially handicapped NOC
Mexican president Andres Lopez Obrador is sticking with his bullish outlook for domestic oil and gas production, despite his country repeatedly failing to meet annual upstream targets. NOC Pemex’s latest five-year plan—released in December—anticipates domestic crude production growing by 28pc by 2027. The state producer also expects to end 2024 at 1.965mn bl/d, way below the 2.480mn bl/d figure the firm initially predicted back in early 2019, but arguably still an overly ambitious target. “Pemex has failed to reach its production targets every year since Obrador took office in 2018,” explains Omar Rios, a research analyst at upstream consultancy Welligence Energy Analytics. “Production has b
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
