Mexican Petroleum (Pemex) Files Q3 2025 6-K Report

TL;DR

Pemex dropped its Q3 2025 6-K, check the numbers.

AI Summary

Mexican Petroleum (Pemex) filed a 6-K report for the period ending September 30, 2025. The filing includes financial information and operational data for the company, which is the state-owned petroleum company of Mexico. Specific financial figures and operational metrics for Q3 2025 and year-to-date are detailed within the report.

Why It Matters

This filing provides investors and analysts with updated financial and operational performance data for Mexico's national oil company, crucial for understanding its current standing and future prospects.

Risk Assessment

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

Key Numbers

• 20250930 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20251215 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• MEXICAN PETROLEUM (company) — Filer of the report
• Pemex (company) — Commonly known name for Mexican Petroleum
• 0000932782-25-000043 (filing_id) — Accession Number for the 6-K filing

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.18.1887 = U.S.$1.00. We maintain our consolidated financi
• $1 — at an exchange rate of Ps.18.3825 = U.S.$1.00, which is the exchange rate that the
• $20.7 billion — in the amount of Ps.380.1 billion (U.S.$20.7 billion) to Petrleos Mexicanos to improve our f
• $0.6 billion — we have received Ps. 11.0 billion (U.S.$0.6 billion) in equity capital contributions from t
• $607 million — t-term leases of Ps.11,159 million (U.S.$607 million) as of September 30, 2025. (3) Total l
• $24,108 million — t-term debt of Ps. 443,168 million (U.S.$24,108 million) as of September 30, 2025. (4) Equity
• $63.22 — Mexican export crude oil price was U.S. $63.22 per barrel, as compared to U.S. $72.48
• $72.48 — $63.22 per barrel, as compared to U.S. $72.48 per barrel for the nine-month period en
• $15.6 billion — oiced amount in U.S. dollars), from U.S.$15.6 billion in the nine-month period ended Septembe
• $10.4 billion — period ended September 30, 2024, to U.S.$10.4 billion in the nine-month period ended Septembe
• $63 — riod ended September 30, 2025, was U.S. $63.22, or 12.8% lower than the weighted av

Filing Documents

• ck0000932782-20250930.htm (6-K) — 3111KB
• 0000932782-25-000043.txt ( ) — 15947KB
• ck0000932782-20250930.xsd (EX-101.SCH) — 129KB
• ck0000932782-20250930_cal.xml (EX-101.CAL) — 91KB
• ck0000932782-20250930_def.xml (EX-101.DEF) — 522KB
• ck0000932782-20250930_lab.xml (EX-101.LAB) — 840KB
• ck0000932782-20250930_pre.xml (EX-101.PRE) — 704KB
• ck0000932782-20250930_htm.xml (XML) — 4060KB

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 September 30, 2025 and for the nine-month periods ended September 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 September 30, 2025 and December 31, 2024, and the Mexican Government has had to financially support us. For the nine-month period ended September 30, 2025, we recognized a net loss of Ps. (45.1) billion and our total equity (deficit) at September 30, 2025 was Ps. (1,895.8) billion. We had negative working capital of Ps. 463.8 billion as of September 30, 2025 and net cash flows from operating activities of Ps.155.6 billion during the nine-month period ended September 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 o

SELECTED FINANCIAL DATA OF PEMEX

SELECTED FINANCIAL DATA OF PEMEX As of and for the period ended September 30, (1) December 31, (1) 2025 2024 2024 (in millions of pesos) Total revenues Ps. 1,166,091 Ps. 1,241,548 Ps. 1,672,673 Operating income (loss) 39,603 25,554 (15,990) Financing income 10,155 12,270 15,670 Financing cost 114,572 113,713 158,902 Derivative financial instruments income (cost), net 18,107 (13,284) (27,594) Foreign exchange income (loss), net 153,011 (256,406) (304,452) Net (loss) (45,055) (430,103) (780,588) Cash and cash equivalents 395,028 n.a. 88,842 Total assets 2,398,403 n.a. 2,208,753 Short-term debt and current portion of long-term debt 443,168 n.a. 425,219 Long-term debt, net of current portion 1,400,305 n.a. 1,553,554 Total long-term liabilities 3,084,670 n.a. 2,985,005 Total equity (deficit) (1,895,798) n.a. (1,983,776) Depreciation and amortization of wells, pipelines, properties, plant and equipment 112,568 109,420 146,850 Acquisition of wells, pipelines, properties, plant and equipment (2) (119,457) (194,810) (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 September 30, 2025 and for the nine-month periods ended September 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 Account

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View this 6-K filing on SEC EDGAR