Mexican Petroleum (PEMEX) Files 6-K for Q2 2025

TL;DR

PEMEX dropped its Q2 2025 6-K, check for operational updates and financial health.

AI Summary

Mexican Petroleum (PEMEX) filed a 6-K report for the period ending June 30, 2025. The filing includes financial data and operational information. A subsequent event was reported on August 28, 2025.

Why It Matters

This filing provides investors with updated financial and operational data for Mexican Petroleum, a key player in the energy sector, allowing for informed investment decisions.

Risk Assessment

Risk Level: medium — As a state-owned enterprise in a volatile industry, PEMEX faces inherent risks related to commodity prices, government policy, and operational challenges.

Key Numbers

• 20250630 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 20250902 — Filing Date (The date the report was officially submitted to the SEC.)
• 2025-08-28 — Subsequent Event Date (Date of a significant event that occurred after the reporting period but before the filing.)

Key Players & Entities

• MEXICAN PETROLEUM (company) — Filer of the report
• PEMEX (company) — Commonly known name for Mexican Petroleum

FAQ

Key Financial Figures

• $130,000,000,000 M — from time to time) relating to its U.S.$130,000,000,000 Medium-Term Notes Program, Series C, due
• $1.00 — ral Reserve System was Ps.18.5921 = U.S.$1.00. We maintain our consolidated financi
• $1 — at an exchange rate of Ps.18.8928 = U.S.$1.00, which is the exchange rate that the
• $5.0 billion — s in the amount of Ps.94.5 billion (U.S.$5.0 billion) to Petrleos Mexicanos to improve our f
• $1.3 billion — we have received Ps. 25.0 billion (U.S.$1.3 billion) in equity capital contributions from t
• $531 million — t-term leases of Ps.10,038 million (U.S.$531 million) as of June 30, 2025. (3) Total long-t
• $28,025 million — rt-term debt of Ps. 529,462million (U.S.$28,025 million) as of June 30, 2025. (4) Equity instr
• $62.89 — Mexican export crude oil price was U.S. $62.89 per barrel, as compared to U.S. $71.67
• $71.67 — $62.89 per barrel, as compared to U.S. $71.67 per barrel for the six-month period end
• $10.9 billion — oiced amount in U.S. dollars), from U.S.$10.9 billion in the six-month period ended June 30,
• $7.1 billion — onth period ended June 30, 2024, to U.S.$7.1 billion in the six-month period ended June 30,
• $62 — th period ended June 30, 2025, was U.S. $62.89, or 12.3% lower than the weighted av
• $63.58 — Mexican export crude oil price was U.S. $63.58per barrel, as compared to U.S. $71.39 p
• $71.39 — . $63.58per barrel, as compared to U.S. $71.39 per barrel for the three-month period e

Filing Documents

• ck0000932782-20250630.htm (6-K) — 3044KB
• 0000932782-25-000025.txt ( ) — 15238KB
• ck0000932782-20250630.xsd (EX-101.SCH) — 120KB
• ck0000932782-20250630_cal.xml (EX-101.CAL) — 86KB
• ck0000932782-20250630_def.xml (EX-101.DEF) — 428KB
• ck0000932782-20250630_lab.xml (EX-101.LAB) — 819KB
• ck0000932782-20250630_pre.xml (EX-101.PRE) — 610KB
• ck0000932782-20250630_htm.xml (XML) — 3968KB

Selected Financial Data

Selected Financial Data The selected financial data as of December 31, 2024 in this section is derived from the audited consolidated financial statements of PEMEX included in the Form 20-F. The selected financial data as of June 30, 2025 and for the six-month periods ended June 30, 2025 and 2024 is derived from the condensed consolidated interim financial statements of PEMEX included in this report, which were prepared in accordance with International Accounting Standard (IAS) 34 "Interim Financial Reporting" and are unaudited. We have substantial debt, including substantial short-term debt, which we have incurred primarily to fund our operating expenses and finance capital investment projects. In recent years, the cash flow from our operations has not been sufficient to fund our operations and capital expenditure programs. As a result, our indebtedness has increased significantly and we had a negative working capital as of June 30, 2025 and December 31, 2024, and the Mexican Government has had to financially support us. For the six-month period ended June 30, 2025, we recognized a net income of Ps. 16.2 billion and our total equity (deficit) at June 30, 2025 was Ps. (2,005.6) billion. We had negative working capital of Ps. 754.9 billion as of June 30, 2025 and net cash flows from operating activities of Ps.98.8 billion during the six-month period ended June 30, 2025. We disclose the circumstances that have caused these trends and the actions we are taking to address them below. Our future cash flows, including our ability to refinance debt, are uncertain due in part to circumstances outside of our control. A sustained decrease in crude oil prices below the budgeted average price for 2025, an economic slowdown or an increase in the cost of financing would have an adverse impact on our results of operation and cash flows and may require us to consider additional actions to address these shortfalls. The combined effect of the above-mentioned events indicates

SELECTED FINANCIAL DATA OF PEMEX

SELECTED FINANCIAL DATA OF PEMEX As of and for the period ended June 30, (1) December 31, (1) 2025 2024 2024 (in millions of pesos) Total revenues Ps. 787,211 Ps. 815,426 Ps. 1,672,673 Operating income (loss) 52,488 25,046 (15,990) Financing income 7,088 10,194 15,670 Financing cost 79,869 71,100 158,902 Derivative financial instruments income (cost), net 20,932 (15,783) (27,594) Foreign exchange income (loss), net 119,627 (126,295) (304,452) Net income (loss) 16,187 (268,647) (780,588) Cash and cash equivalents 96,369 n.a. 88,842 Total assets 2,119,702 n.a. 2,208,753 Short-term debt and current portion of long-term debt 529,462 n.a. 425,219 Long-term debt, net of current portion 1,336,890 n.a. 1,553,554 Total long-term liabilities 2,910,742 n.a. 2,985,005 Total equity (deficit) (2,005,587) n.a. (1,983,776) Depreciation and amortization of wells, pipelines, properties, plant and equipment 73,398 74,259 146,850 Acquisition of wells, pipelines, properties, plant and equipment (2) (94,017) (145,396) (230,139) Note: n.a. = Not applicable. (1) Includes Petrleos Mexicanos, the subsidiary entities and the subsidiary companies listed in Note 5 to our condensed consolidated interim financial statements included herein and our audited consolidated financial statements as of and for the year ended December 31, 2024 . (2) Includes capitalized financing cost. See Note 12-A to our condensed consolidated interim financial statements included herein and the Liquidity and Capital Resources section herein. Source: PEMEX's condensed consolidated interim financial statements as of June 30, 2025 and for the six-month periods ended June 30, 2025 and 2024 , prepared in accordance with IAS 34"Interim Financial Reporting" ("IAS 34") under "IFRS Accounting Standards" ("IFRS") as issued by the International Accounting Standards Board (

View Full Filing

View this 6-K filing on SEC EDGAR