{"id":145075,"date":"2026-03-20T11:45:26","date_gmt":"2026-03-20T14:45:26","guid":{"rendered":"https:\/\/www.gapp-oil.com.ar\/?p=145075"},"modified":"2026-03-26T11:46:33","modified_gmt":"2026-03-26T14:46:33","slug":"mexicos-pemex-taking-wait-and-see-approach-on-oil-exports-as-prices-climb-minister-says","status":"publish","type":"post","link":"https:\/\/gapp-oil.com.ar\/en\/2026\/03\/20\/mexicos-pemex-taking-wait-and-see-approach-on-oil-exports-as-prices-climb-minister-says\/","title":{"rendered":"Mexico’s Pemex taking ‘wait-and-see’ approach on oil exports as prices climb, minister says"},"content":{"rendered":"
Mexican state-run oil firm Pemex is waiting to see how oil prices behave in \u200bthe mid-term before altering its strategy on crude exports, Finance Minister Edgar Amador told \u200cReuters on Friday.<\/div>\n
“Our perspective is that this should be a relatively temporary effect,” Amador said in an interview at Mexico’s annual banking convention, referring to the recent climb in prices tied to the\u00a0war in the Middle East<\/a>.<\/div>\n
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Pemex (PEMX.UL) \u200bhas sought to\u00a0prioritize refining over exports<\/a>\u00a0in recent years in a government-backed bid to \u200breduce Mexico’s longstanding reliance on imports, and in recent months dramatically reduced its crude \u2060oil exports.<\/div>\n
Analysts say it may make more sense for Pemex to export crude and import \u200brefined oil, which costs less than domestically refining the oil.<\/div>\n
Pemex could reconsider its strategy if the Middle East \u200bconflict persists much longer, Amador said. \u2003\u2003”You also have local refineries to feed,” he said. “You have to strike a balance between them,” adding that he expects Mexico to experience a relatively neutral fiscal effect from the rising oil prices.<\/div>\n
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During \u200bthe second week of March, Mexico’s crude exports to the U.S. reached 640,000 barrels per day, a 160% \u200bincrease compared to the last week of February, before the start of the U.S.-Israeli war with Iran.<\/div>\n
Amador also \u200csaid Pemex \u2060is taking “baby steps” to become financially independent, but noted that the goal could take longer to reach than officials’ previous estimate of 2027.<\/div>\n
Pemex has received billions of dollars in government support for several years to alleviate its liabilities. It received 395 billion pesos ($21.99 billion) in government aid last year.<\/div>\n
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“Our projection is that \u200bby 2027 (at) the earliest, maybe \u200ba little bit \u2060later, that they’ll be able to stand on their own,” Amador said.<\/div>\n
He projected there would be government spending reductions next year, although not to social programs, which he \u200bsaid are constitutionally protected. Amador said “rainy-day” funds are currently running at 150 billion \u200bpesos.<\/div>\n
He also addressed \u2060growing concerns in the private sector about Mexico’s tax agency, which has become embroiled in disputes with domestic and international companies, including South Korea’s Samsung Electronics\u00a0(005930.KS), opens new tab<\/a>, over tax obligations.<\/div>\n
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Amador said he was aware of the issue and seeking \u2060to \u200bmove forward with a “rule-based approach” for dealing with large firms’ tax \u200bobligations.<\/div>\n","protected":false},"excerpt":{"rendered":"

Mexican state-run oil firm Pemex is waiting to see how oil prices behave in \u200bthe mid-term before altering its strategy on crude exports, Finance Minister Edgar Amador told \u200cReuters on Friday. “Our perspective is that this should be a relatively temporary effect,” Amador said in an interview at Mexico’s annual banking convention, referring to the […]<\/p>\n","protected":false},"author":336,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"novedades-gapp-noticias":[],"lineas-trabajo-noticias":[],"industrias-noticias":[394],"mercados-noticias":[1359,436],"class_list":["post-145075","post","type-post","status-publish","format-standard","hentry","industrias-noticias-oil-gas","mercados-noticias-america-del-norte","mercados-noticias-mexico"],"_links":{"self":[{"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/posts\/145075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/users\/336"}],"replies":[{"embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/comments?post=145075"}],"version-history":[{"count":1,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/posts\/145075\/revisions"}],"predecessor-version":[{"id":145076,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/posts\/145075\/revisions\/145076"}],"wp:attachment":[{"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/media?parent=145075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/categories?post=145075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/tags?post=145075"},{"taxonomy":"novedades-gapp-noticias","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/novedades-gapp-noticias?post=145075"},{"taxonomy":"lineas-trabajo-noticias","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/lineas-trabajo-noticias?post=145075"},{"taxonomy":"industrias-noticias","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/industrias-noticias?post=145075"},{"taxonomy":"mercados-noticias","embeddable":true,"href":"https:\/\/gapp-oil.com.ar\/en\/wp-json\/wp\/v2\/mercados-noticias?post=145075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}