Try our corporate solution for free!

Pemex - Statistics & Facts

Petróleos Mexicanos, commonly known as Pemex, is Mexico’s national oil corporation. Founded in 1938, the state-owned company once had exclusive rights over oil production and distribution in the country, until an energy reform in the early 2010’s put an end to its monopoly. Nowadays, despite remaining the second largest oil and gas company in Latin America based on revenue, and one of the most valuable Mexican brands, Pemex is trying to cope with a generalized crisis.

Upstream starts going down

In its glory days, Pemex produced on average over three million barrels of oil per day, turning Mexico into Latin America’s most prominent crude producer. However, after years of mismanagement, corruption allegations, and a lack of investment in new oil fields, the company has struggled with a continual decrease in output. In 2021, Pemex’s crude oil production averaged 1.7 million daily barrels, the first year-over-year growth recorded in over 15 years. Nevertheless, it still represents a decline in putput of more than 30 percent in comparison to a decade earlier. Similarly, its natural gas production has decreased by roughly two billion cubic feet per day in ten years.

Downstream has also seen better days

In addition to, and partially a result of the decline in crude production, Pemex’s downstream segment also faces a myriad of challenges, with its refinery output decreasing in recent years. In parallel, as competition with foreign brands tightens, the number of Pemex gas stations has continually shrunk in the second half of the past decade. To add further strain, Mexico’s oil corporation experiences major organizational problems, in particular, securing its oil and gas infrastructure. Despite recently strengthen security measures, more than 10 thousand fuel theft occurences in the pipelines owned or operated by Pemex were registered in 2021, incurring revenue losses worth billions of Mexican pesos.

Losses, pandemic, and the first signs of rebound

Even with continuous governmental efforts to reignite the national oil sector, and Mexico’s economy along with it, Pemex has been consistently reporting net losses since 2013, which exceeded 14 billion U.S. dollars in 2021. The global drop in crude oil prices amidst the COVID-19 pandemic, which inevitably affected Mexico’s export blend, was just another blow to president López Obrador’s campaign. Nevertheless, with prices rebounding and registering an upward trend through most of 2021, Pemex's revenue grew by more than 50 percent that year, totaling 72.6 billion U.S. dollars.

Interesting statistics

In the following 7 chapters, you will quickly find the 32 most important statistics relating to "Pemex".

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Vianny Gutierrez-Cruz
Vianny Gutierrez-Cruz
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Ziyan Zhang
Ziyan Zhang
Customer Relations– Contact (Asia)

Mon - Fri, 11:30am - 10pm (IST)

Contact Kisara Mizuno
Kisara Mizuno
Customer Success Manager– Contact (Asia)

Mon - Fri, 9:30am - 5:30pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Associate Director - LAC– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)