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Bond Market News
Pemex Reports $3.3bn Q3 Net Loss
October 28, 2025
Pemex reported a third quarter net loss of MXN 61.25bn ($3.3bn), vs. a MXN 59.52bn ($3.2bn) profit in the previous quarter. Crude and condensate production fell almost 7% to 1.65 million barrels per day from a year earlier. Pemex’s total debt stood at $100.3bn at the end of September, up from $98.8bn three months earlier. By the end of the year, total debt will be about 10% lower than 2024 levels, its executives said. The losses comes despite the Mexican government announcing a $41bn package designed to boost Pemex’s finances and make it financially self-sufficient by 2027. Some of the latest initiatives include its $12bn P-Cap deal, a $14.4bn allocation to the company in its budget amongst other measures. As per reports, Pemex executives also said that the company had received interest from about 40 companies for participation in partnerships, and that it expects to sign contracts for 10 key projects.
Pemex’s bonds largely traded stable with its 6.625% 2035s currently at 96.80 yielding 7.08%
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