Pemex Reports Q2 2026 Net Income Recovery Amid Stable Production
Pemex achieved a net income of 18 billion pesos (US$1.04 billion) in Q2 2026, recovering from a significant Q1 loss. Oil production averaged 1.65 million bpd, while refining decreased compared to Q1 despite year-on-year improvements.
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In Q2 2026, Pemex reported a net income of 18 billion Mexican pesos (US$1.04 billion), reversing a loss of 46 billion pesos (US$2.66 billion) in Q1. Oil production remained stable at 1.65 million bpd, with a slight increase in volumes year-on-year.
Natural gas production reached 4.006 Bcf/d, reflecting an 11.5% annual rise. The company is investing US$7.75 billion in 367 oil and gas projects and expects capital investments of 81.7 billion pesos (US$4.72 billion) in exploration and extraction this year.
Despite these positive results, crude refining rates declined to 1.008 million bpd in Q2, lower than Q1's figures. The ongoing reliance on offshore assets, particularly the KMZ complex, poses risks due to natural declines.
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