Wells, Pipelines, Properties, Plant and Equipment, Net (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Disclosure of detailed information about property, plant and equipment [abstract] |
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| Detailed Information About Property, Plant and Equipment |
As of December 31, 2025 and 2024, wells, pipelines, properties, plant and equipment, net, is presented as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Plants | Drilling
equipment | Pipelines | Wells | Buildings | Offshore
platforms | Furniture and
equipment | Transportation
equipment | Construction in progress (1) | Land | Total fixed assets | | Investment | | | | | | | | | | | | | Balances as of January 1, 2024 | 1,070,987,449 | | 18,913,795 | | 491,444,562 | | 1,695,212,594 | | 73,956,002 | | 425,259,020 | | 53,545,137 | | 32,988,437 | | 480,504,766 | | 52,888,295 | | 4,395,700,057 | | | Acquisitions | 11,194,280 | | 5,432,300 | | 7,180,410 | | 94,119,630 | | 57,660 | | 2,573,440 | | 2,922,890 | | 817,850 | | 189,951,070 | | — | | 314,249,530 | | | Reclassifications | 1,357,250 | | — | | 397,460 | | — | | 252,930 | | (1,280,890) | | 309,960 | | 130,500 | | (6,260) | | 27,740 | | 1,188,690 | | | Capitalization | 44,796,840 | | — | | 9,245,250 | | 60,274,710 | | 1,864,030 | | 2,135,690 | | 565,340 | | 55,790 | | (118,965,090) | | 27,440 | | — | | | Disposals | (5,171,200) | | (38,620) | | (994,620) | | — | | (242,880) | | (7,940) | | (2,036,150) | | (545,530) | | (5,117,236) | | (62,990) | | (14,217,166) | | | Translation effect | 23,924,080 | | — | | (22,690) | | — | | 1,962,770 | | — | | 151,040 | | 746,120 | | 49,166,860 | | 451,890 | | 76,380,070 | | | Balances as of December 31, 2024 | Ps. | 1,147,088,699 | | 24,307,475 | | 507,250,372 | | 1,849,606,934 | | 77,850,512 | | 428,679,320 | | 55,458,217 | | 34,193,167 | | 595,534,110 | | 53,332,375 | | 4,773,301,181 | | | Acquisitions | 14,065,870 | | 1,720,400 | | 9,362,710 | | 67,196,720 | | (10,680) | | 2,731,950 | | 3,285,650 | | 1,722,480 | | 94,020,980 | | — | | 194,096,080 | | | Reclassifications | 5,228,300 | | (25,430) | | 532,090 | | — | | 1,620,720 | | (6,927,180) | | 24,210 | | 92,620 | | 77,520 | | — | | 622,850 | | | Capitalization | 168,334,100 | | — | | 6,574,820 | | 47,890,360 | | 7,835,170 | | 604,370 | | 1,040,030 | | 256,850 | | (232,536,280) | | 580 | | — | | | Disposals | (7,437,570) | | (3,000,030) | | (12,463,280) | | (29,665,120) | | (9,320) | | (10,782,430) | | (473,760) | | (146,460) | | (713,060) | | (228,880) | | (64,919,910) | | | Translation effect | (24,060,380) | | — | | (23,670) | | — | | (1,849,780) | | — | | (145,780) | | (469,180) | | (32,298,830) | | (324,160) | | (59,171,780) | | | Balances as of December 31, 2025 | Ps. | 1,303,219,019 | | 23,002,415 | | 511,233,042 | | 1,935,028,894 | | 85,436,622 | | 414,306,030 | | 59,188,567 | | 35,649,477 | | 424,084,440 | | 52,779,915 | | 4,843,928,421 | | | Accumulated depreciation and amortization | | | | | | | | | | | | | Balances as of January 1, 2024 | (785,552,629) | | (6,896,584) | | (308,862,775) | | (1,341,888,963) | | (48,568,206) | | (300,832,110) | | (46,934,913) | | (16,908,292) | | (56,933,419) | | — | | (2,913,377,891) | | | Depreciation and amortization | (32,590,580) | | (765,490) | | (12,534,800) | | (82,997,750) | | (1,786,750) | | (12,839,730) | | (1,628,720) | | (1,706,388) | | — | | — | | (146,850,208) | | | Reclassifications | (330,550) | | 53,880 | | (410,050) | | (53,980) | | (34,000) | | 53,950 | | (309,710) | | (158,330) | | 100 | | — | | (1,188,690) | | | (Impairment) | (119,691,380) | | — | | (16,588,490) | | (27,386,630) | | (218,120) | | (9,356,010) | | — | | — | | (5,027,050) | | — | | (178,267,680) | | | Reversal of impairment | 46,899,260 | | — | | 10,442,300 | | 39,134,890 | | — | | 19,784,040 | | 62,440 | | — | | 8,467,170 | | — | | 124,790,100 | | | Disposals | 4,712,390 | | 33,950 | | 994,600 | | — | | 59,210 | | 5,070 | | 2,030,670 | | 487,820 | | — | | — | | 8,323,710 | | | Translation effect | (15,029,580) | | — | | 23,010 | | — | | (939,730) | | — | | (65,130) | | (186,380) | | — | | — | | (16,197,810) | | | Balances as of December 31, 2024 | Ps. | (901,583,069) | | (7,574,244) | | (326,936,205) | | (1,413,192,433) | | (51,487,596) | | (303,184,790) | | (46,845,363) | | (18,471,570) | | (53,493,199) | | — | | (3,122,768,469) | | | Depreciation and amortization | (34,323,900) | | (415,240) | | (13,635,710) | | (86,448,950) | | (1,863,600) | | (13,364,700) | | (1,724,030) | | (1,742,534) | | — | | — | | (153,518,664) | | | Reclassifications | (1,290,060) | | 1,220 | | (532,090) | | — | | (96,200) | | 1,385,140 | | (1,750) | | (89,110) | | — | | — | | (622,850) | | | (Impairment) | (39,761,990) | | — | | (34,492,290) | | (23,760,170) | | (42,890) | | (12,365,330) | | — | | — | | (16,023,009) | | — | | (126,445,679) | | | Reversal of impairment | 39,467,710 | | — | | 29,701,920 | | 30,497,120 | | — | | 14,903,160 | | — | | — | | 3,798,320 | | — | | 118,368,230 | | | Disposals | 6,591,240 | | 2,107,790 | | 6,848,320 | | 25,124,790 | | 8,290 | | 6,898,330 | | 470,340 | | 135,570 | | — | | — | | 48,184,670 | | | Translation effect | 10,858,320 | | — | | 26,400 | | — | | 714,760 | | — | | 64,860 | | 126,045 | | — | | — | | 11,790,385 | | | Balances as of December 31, 2025 | Ps. | (920,041,749) | | (5,880,474) | | (339,019,655) | | (1,467,779,643) | | (52,767,236) | | (305,728,190) | | (48,035,943) | | (20,041,599) | | (65,717,888) | | — | | (3,225,012,377) | | | Wells, pipelines, properties, plant and equipment—net as of December 31, 2024 | Ps. | 245,505,630 | | 16,733,231 | | 180,314,167 | | 436,414,501 | | 26,362,916 | | 125,494,530 | | 8,612,854 | | 15,721,597 | | 542,040,911 | | 53,332,375 | | 1,650,532,712 | | | Wells, pipelines, properties, plant and equipment—net as of December 31, 2025 | Ps. | 383,177,270 | | 17,121,941 | | 172,213,387 | | 467,249,251 | | 32,669,386 | | 108,577,840 | | 11,152,624 | | 15,607,878 | | 358,366,552 | | 52,779,915 | | 1,618,916,044 | | | Depreciation rates | 3 to 5% | 5% | 2 to 7% | — | 3 to 7% | 4% | 3 to 10% | 4 to 20% | — | — | | | Estimated useful lives | 20 to 35 | 20 | 15 to 45 | — | 14 to 33 | 25 | 10 to 33 | 5 to 25 | — | — | |
(1)Mainly wells, pipelines and plants.
A.As of December 31, 2025, 2024 and 2023, the financing cost identified with fixed assets in the construction or installation stage, capitalized as part of the value of such fixed assets, was Ps.5,708,131, Ps. 7,937,219, and Ps. 4,676,577, respectively. Financing cost rates during 2025, 2024 and 2023 were 8.35% to 14.11%, 7.82% to 18.68% and 6.47% to 7.62%, respectively. B.The combined depreciation of fixed assets and amortization of wells for the fiscal years ended December 31, 2025, 2024 and 2023, recognized in operating costs and expenses, was Ps. 153,518,664, Ps. 146,850,208 and Ps. 137,555,276, respectively. These figures include Ps. 130,244,785, Ps. 124,473,818 and Ps.115,208,527 for oil and gas production assets and costs related to plugging and abandonment of wells for the years ended December 31, 2025, 2024 and 2023 of Ps. 6,704,138, Ps. 789,805 and Ps. 137,685, respectively. C.As of December 31, 2025 and 2024, provisions relating to future plugging of wells costs amounted to Ps. 126,608,358 and Ps. 115,514,750, respectively, and are presented in the “Provisions for plugging of wells” (see Note 20). D.As of December 31, 2025, 2024 and 2023, acquisitions of property, plant and equipment include transfers from wells unassigned to a reserve for Ps. 7,773,944, Ps. 9,696,153 and Ps. 14,306,298, respectively (see Note 13). E.As of December 31, 2025, 2024 and 2023, the translation effect of property, plant and equipment items from a different currency than the presentation currency was Ps. (47,381,395), Ps. 60,182,260 and Ps. (40,731,370), respectively, which was mainly plant. F.As of December 31, 2025, 2024 and 2023, PEMEX recognized a net impairment of Ps. (8,077,449), Ps. (53,477,580) and Ps. (28,797,518), respectively, which is presented as a separate line item in the consolidated statement of comprehensive income as follows: | | | | | | | | | | | | | 2025 | 2024 | 2023 | | (Impairment) / Reversal of
impairment, net | | Logistics as a part of Other Operating Subsidiary Companies (formerly Pemex Logistics) | Ps. | (23,192,225) | | Ps. | 582,923 | | Ps. | (612,906) | | | Industrial Processes (formerly part of Pemex Industrial Transformation) | (1,115,093) | | — | | — | | | Pemex Industrial Transformation | — | | (78,049,865) | | (25,568,713) | | | SUS | — | | — | | (71,036) | | | MGAS | 163,986 | | (37,985) | | (191,786) | | | Energy Transformation (formerly part of Pemex Industrial Transformation) | 3,467,927 | | — | | — | | | Exploration and Extraction (formerly Pemex Exploration and Production) | 12,597,956 | | 24,027,347 | | (2,353,077) | | | (Impairment), net | Ps. | (8,077,449) | | Ps. | (53,477,580) | | Ps. | (28,797,518) | |
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| Summary of Net Impairment and Net Reversal of Impairment |
As of December 31, 2025, 2024 and 2023, PEMEX recognized a net impairment of Ps. (8,077,449), Ps. (53,477,580) and Ps. (28,797,518), respectively, which is presented as a separate line item in the consolidated statement of comprehensive income as follows: | | | | | | | | | | | | | 2025 | 2024 | 2023 | | (Impairment) / Reversal of
impairment, net | | Logistics as a part of Other Operating Subsidiary Companies (formerly Pemex Logistics) | Ps. | (23,192,225) | | Ps. | 582,923 | | Ps. | (612,906) | | | Industrial Processes (formerly part of Pemex Industrial Transformation) | (1,115,093) | | — | | — | | | Pemex Industrial Transformation | — | | (78,049,865) | | (25,568,713) | | | SUS | — | | — | | (71,036) | | | MGAS | 163,986 | | (37,985) | | (191,786) | | | Energy Transformation (formerly part of Pemex Industrial Transformation) | 3,467,927 | | — | | — | | | Exploration and Extraction (formerly Pemex Exploration and Production) | 12,597,956 | | 24,027,347 | | (2,353,077) | | | (Impairment), net | Ps. | (8,077,449) | | Ps. | (53,477,580) | | Ps. | (28,797,518) | |
As of December 31, 2025, 2024 and 2023, Exploration and Extraction recognized net reversals of impairment and net impairment of Ps. 12,597,956, Ps. 24,027,347 and Ps. (2,353,077), respectively, shown by CGUs as follows: | | | | | | | | | | | | | 2025 | 2024 | 2023 | | Cantarell | Ps. | 37,238,709 | | Ps. | (904,083) | | Ps. | 15,174,961 | | | Tsimin Xux | 2,732,718 | | 3,211,743 | | (9,532,221) | | | Ayin-Alux | 1,030,368 | | 486,415 | | — | | | Aceite Terciario del Golfo | — | | 18,799,827 | | (16,192,262) | | | Tamaulipas Constituciones | — | | 2,578,602 | | 1,710,627 | | | Poza Rica | — | | 385,159 | | (397,084) | | | Cárdenas-Mora | — | | — | | 1,150,448 | | | Crudo Ligero Marino | — | | — | | 1,420,120 | | | Santuario El Golpe | — | | — | | 1,454,789 | | | Ixtal - Manik | — | | — | | 6,042,806 | | | Chuc | — | | — | | 6,445,006 | | | Misión (CEE) | (62,104) | | 5,902 | | (458,354) | | | Antonio J. Bermúdez | (184,690) | | 3,903,165 | | 9,724,991 | | | Lakach | (287,187) | | 3,546,439 | | (423,347) | | | Santuario CEE | (832,888) | | — | | — | | | Arenque | (1,560,264) | | 1,702,529 | | (1,705,447) | | | Cuenca de Macuspana | (1,576,853) | | 83,560 | | 837,460 | | | Burgos | (3,442,880) | | (6,772,427) | | (10,631,921) | | | Ku Maloob Zaap | (8,425,068) | | — | | — | | | Ogarrio Magallanes | (12,031,905) | | (2,999,484) | | (6,973,649) | | | Total | Ps. | 12,597,956 | | Ps. | 24,027,347 | | Ps. | (2,353,077) | |
As of December 31, 2025, the Industrial Processes segment recognized a net impairment of Ps. (1,115,093), shown by CGUs as follows: | | | | | | | 2025 | | Tula Refinery | Ps. | 11,780,665 | | | Cosoleacaque Petrochemical Complex | 1,647,455 | | | Coatzacoalcos Gas Processor Complex | 563,041 | | | Pajaritos Ethylene Complex | 46,777 | | | Cangrejera Ethylene Complex | (104,726) | | | Minatitlán Refinery | (315,583) | | | Morelos Petrochemical Complex | (422,534) | | | Madero Refinery | (624,390) | | | Cadereyta Refinery | (4,339,830) | | | Salina Cruz Refinery | (9,345,968) | | | Net Impairment | Ps. | (1,115,093) | |
As of December 31, 2025, the Energy Transformation segment recognized a net reversal of impairment of Ps.3,467,927, shown by CGUs as follows: | | | | | | | 2025 | | Nuevo Pemex Gas Processor Complex | Ps. | 1,807,491 | | | Cactus Gas Processor Complex | 754,045 | | | Ciudad Pemex Gas Processor Complex | 592,674 | | | La Venta Gas Processor Complex | 305,296 | | | Gas Poza Rica Processor Complex | 19,256 | | | Gas Arenque Processor Complex | 2,048 | | | Matapionche Gas Processor Complex | (12,883) | | | Reversal of impairment | Ps. | 3,467,927 | |
The net reversal of impairment and (impairment), was in the following CGUs: | | | | | | | | | | 2024 | 2023 | | Storage terminals | Ps. | 582,923 | | Ps. | (582,923) | | | Construction in progress | — | | (58,816) | | | Land and transport (white pipelines) | — | | 28,833 | | | Reversal of impairment (impairment), net | Ps. | 582,923 | | Ps. | (612,906) | |
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| Assumptions to Determine Net Present Value of Reserves Long Lived Assets |
To determine the value in use of long-lived assets associated to hydrocarbon extraction, the net present value of reserves is determined based on the following assumptions: | | | | | | | | | | | | | 2025 | 2024 | 2023 | | Average crude oil price | 61.16 U.S.$/bl | 63.02 U.S.$/bl | 64.08 U.S.$/bl | | Average gas price | 4.84 U.S.$/mpc | 4.89 U.S.$/mpc | 4.79 U.S.$/mpc | | Average condensates price | 64.24 U.S.$/bl | 70.21 U.S.$/bl | 73.00 U.S.$/bl | | After-tax discount rate | 6.28% annual | 10.86% annual | 9.93% annual | | Pre-tax discount rate | 9.88% annual | 16.44% annual | 15.10% annual |
To determine the value in use of long-lived assets associated with the CGUs of Industrial Processes, the net present value of cash flows was determined based on the following assumptions: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Refining | Petrochemicals | | Ethylene | | Fertilizers | Average crude oil Price (U.S.$) (1) | 97.48 | | N.A. | Processed volume (1) | 924 mbd | | Variable because the load inputs are diverse | | Rate of U.S.$ | 17.9667 | | 17.9667 | | 17.9667 | | 17.9667 | | Useful lives of the cash-generating units (year average) | 12 | | 8 | | 10 | | 15 | | Pre-tax discount rate | 10.95% | | 8.46% | | 8.46% | | 10.26% | Period | 2026-2037 | | 2026-2033 | | 2026-2035 | | 2026-2040 |
(1)Average of the first 5 years. To determine the value in use of long-lived assets associated with the CGUs of Energy Transformation, the net present value of cash flows was determined based on the following assumptions: | | | | | | | December 31, 2025 | | Gas | | | Processed volume (1) | 2,555 mmpcd of humid gas | | Rate of U.S.$ | 17.9667 | Useful lives of the cash-generating units
(year average) | 8 | | Pre-tax discount rate | 10.72% | | Period | 2026-2033 |
(1) Average of the first 5 years. To determine the value in use of long-lived assets associated with the CGUs of Pemex Industrial Transformation, the net present value of cash flows was determined based on the following assumptions: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, | | 2024 | 2023 | | 2024 | 2023 | | 2024 | 2023 | | 2024 | 2023 | | 2024 | 2023 | | Refining | | Gas | | Petrochemicals | | Ethylene | | Fertilizers | | Average crude oil Price (U.S.$) | 101.82 | 105.5 | | N.A. | | | N.A. | | N.A. | | N.A | | Processed volume (1) | 866 mbd | 993 mbd | | 2,746 mmpcd of humid gas | 3,201 mmpcd of humid gas | | Variable because the load inputs are diverse | | Rate of U.S.$ | $20.2683 | $16.9220 | | $20.2683 | $16.9220 | | $20.2683 | $16.9220 | | $20.2683 | $16.9220 | | $20.2683 | $16.9220 | | Useful lives of the cash-generating units (year average) | 12 | 12 | | 7 | 6 | | 4 | 5 | | 7 | 5 | | 6 | 5 | | Pre-tax discount rate | 14.75% | 13.68% | | 15.93% | 12.25% | | 11.35% | 10.31% | | 11.35% | 10.31% | | 12.35% | 13.25% | | Period (2) | 2025-2036 | 2024-2035 | | 2025-2031 | 2024 - 2029 | | 2025-2028 | 2024-2027 | | 2025-2031 | 2024-2028 | | 2025-2030 | 2024-2028 |
(1)Average of the first four years. (2)The first five years are projected and stabilize at year six. N.A. = Not applicable | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, | | 2024 | 2023 | | 2024 | 2023 | | 2024 | 2023 | | Pipelines | | Landing transport | | Vessel | | Discount rate | 16.57% | 14.80% | | 16.57% | 14.80% | | 16.57% | 14.80% | | Useful life | 17 | 19 | | 14 | 0 | | 14 | 15 |
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| Summary of Reversal Impairment loss for CGUs |
| | | | | | | | | | | | | 2025 | 2024 | 2023 | | Cantarell | Ps. | 37,238,709 | | Ps. | (904,083) | | Ps. | 15,174,961 | | | Tsimin Xux | 2,732,718 | | 3,211,743 | | (9,532,221) | | | Ayin-Alux | 1,030,368 | | 486,415 | | — | | | Aceite Terciario del Golfo | — | | 18,799,827 | | (16,192,262) | | | Tamaulipas Constituciones | — | | 2,578,602 | | 1,710,627 | | | Poza Rica | — | | 385,159 | | (397,084) | | | Cárdenas-Mora | — | | — | | 1,150,448 | | | Crudo Ligero Marino | — | | — | | 1,420,120 | | | Santuario El Golpe | — | | — | | 1,454,789 | | | Ixtal - Manik | — | | — | | 6,042,806 | | | Chuc | — | | — | | 6,445,006 | | | Misión (CEE) | (62,104) | | 5,902 | | (458,354) | | | Antonio J. Bermúdez | (184,690) | | 3,903,165 | | 9,724,991 | | | Lakach | (287,187) | | 3,546,439 | | (423,347) | | | Santuario CEE | (832,888) | | — | | — | | | Arenque | (1,560,264) | | 1,702,529 | | (1,705,447) | | | Cuenca de Macuspana | (1,576,853) | | 83,560 | | 837,460 | | | Burgos | (3,442,880) | | (6,772,427) | | (10,631,921) | | | Ku Maloob Zaap | (8,425,068) | | — | | — | | | Ogarrio Magallanes | (12,031,905) | | (2,999,484) | | (6,973,649) | | | Total | Ps. | 12,597,956 | | Ps. | 24,027,347 | | Ps. | (2,353,077) | |
As of December 31, 2025, 2024 and 2023, values in use for CGU are: | | | | | | | | | | | | | 2025 | 2024 | 2023 | | Ku Maloob Zaap | 425,844,565 | | — | | — | | | Aceite Terciario del Golfo | 101,518,822 | | 62,598,697 | | 27,318,209 | | | Cantarell | 44,789,042 | | 18,829,360 | | 19,852,385 | | | Tsimin Xux | 42,775,429 | | 39,802,960 | | 26,234,797 | | | Crudo Ligero Marino | 38,895,336 | | 42,175,410 | | 34,288,720 | | | Antonio J. Bermúdez | 29,914,562 | | 32,097,908 | | 23,434,323 | | | Ogarrio Magallanes | 25,427,921 | | 32,727,984 | | 27,794,137 | | | Tamaulipas Constituciones | 14,718,626 | | 14,610,722 | | 4,799,796 | | | Poza Rica | 9,788,364 | | 10,324,802 | | 6,089,496 | | | Lakach | 3,552,966 | | 4,874,349 | | — | | | Arenque | 1,741,253 | | 7,804,677 | | 2,629,121 | | | Ayín - Alux | 1,694,722 | | 750,222 | | — | | | Santuario (CEE) | 1,499,210 | | — | | — | | | Chuc | — | | 82,745,798 | | 58,954,530 | | | Ixtal - Manik | — | | 23,891,174 | | 14,311,152 | | | Cuenca de Macuspana | — | | 1,996,655 | | 612,773 | | | Burgos | — | | 1,259,454 | | 2,611,157 | | | Ébano (CEE) | — | | — | | 4,690,690 | | | Santuario El Golpe | — | | — | | 3,640,552 | | | Cárdenas-Mora | — | | — | | 3,105,129 | | | Total | Ps. | 742,160,818 | | Ps. | 376,490,172 | | Ps. | 260,366,967 | |
As of December 31, 2025, the value in use for CGUs are as follows:
| | | | | | | 2025 | | Tula Refinery | Ps. | 43,042,423 | | | Salamanca Refinery | 28,082,765 | | | Cadereyta Refinery | 24,735,313 | | | Cangrejera Petrochemical Complex | 20,691,534 | | | Salina Cruz Refinery | 10,680,107 | | | Independencia Petrochemical Complex | 1,963,400 | | | Morelos Petrochemical Complex | 211,498 | | | Pajaritos Ethylene Complex | 184,970 | | | Coatzacoalcos Gas Processor Complex | 48,739 | | | Total | Ps. | 129,640,749 | |
As of December 31, 2025, the value in use for the CGUs is as follows: | | | | | | | 2025 | | Nuevo Pemex Gas Processor Complex | Ps. | 8,736,369 | | | Cactus Gas Processor Complex | 7,590,104 | | | Ciudad Pemex Gas Processor Complex | 5,256,806 | | | La Venta Gas Processor Complex | 1,946,196 | | | Burgos Gas Processor Complex | 1,770,051 | | | Total | Ps. | 25,299,526 | |
As of December 31, 2024 and 2023, Pemex Industrial Transformation recognized a net impairment of Ps. (78,049,865) and Ps. (25,568,713), respectively, shown by CGUs as follows: | | | | | | | | | | 2024 | 2023 | | Tula Refinery | (33,661,647) | | (13,816) | | | Minatitlán Refinery | (16,652,058) | | 4,615,400 | | | Salina Cruz Refinery | (7,270,800) | | — | | | Madero Refinery | (6,369,734) | | (10,125,589) | | | Cosoleacaque Petrochemical Complex | (5,716,817) | | (5,096,027) | | | Ciudad Pemex Gas Processor Complex | (5,389,475) | | — | | | Cactus Gas Processor Complex | (1,670,960) | | (4,592,823) | | | Morelos Petrochemical Complex | (643,817) | | (3,093,360) | | | Coatzacoalcos Gas Processor Complex | (576,742) | | (2,051,842) | | | Ethylene Processor Complex | (424,382) | | — | | | La Venta Gas Processor Complex | (396,654) | | (541,766) | | | Matapionche Gas Processor Complex | (163,389) | | (498,212) | | | Pajaritos Petrochemical Complex | (40,901) | | — | | | Cangrejera Petrochemical Complex | — | | (61,296) | | | Salamanca Refinery | 393 | | 5,750,279 | | | Arenque Gas Processor Complex | 1,774 | | (159,571) | | | Poza Rica Gas Processor Complex | 137,833 | | (646,813) | | | Cangrejera Ethylene Complex | 312,331 | | (771,161) | | | Nuevo Pemex Gas Processor Complex | 475,180 | | (8,282,116) | | | Impairment, net | Ps. | (78,049,865) | | Ps. | (25,568,713) | |
| | | | | | | | | | 2024 | 2023 | | Salamanca Refinery | 38,826,331 | | 52,973,936 | | | Cadereyta Refinery | 38,491,000 | | 49,608,678 | | | Salina Cruz Refinery | 20,203,733 | | 51,877,280 | | | Tula Refinery | 18,074,762 | | 46,202,340 | | | Cangrejera Ethylene Processor Complex | 11,278,426 | | 8,758,887 | | | Nuevo Pemex Gas Processor Complex | 8,136,516 | | 8,412,828 | | | Ciudad Pemex Gas Processor Complex | 6,358,136 | | 13,566,516 | | | Cactus Gas Processor Complex | 5,301,464 | | 7,412,437 | | | Burgos Gas Processor Complex | 3,457,364 | | 1,972,249 | | | Independencia Petrochemical Complex | 1,899,481 | | 4,382,873 | | | La Venta Gas Processor Complex | 977,988 | | 1,471,999 | | | Coatzacoalcos Gas Processor Complex | 921,077 | | 1,764,690 | | | Morelos Ethylene Processor Complex | 538,152 | | 923,623 | | | Pajaritos Ethylene Processor Complex | 184,970 | | — | | | Madero Refinery | — | | 14,453,809 | | | Minatitlán Refinery | — | | 4,184,019 | | | Cosoleacaque Petrochemical Complex | — | | 1,502,395 | | | Total | Ps. | 154,649,400 | | Ps. | 269,468,559 | |
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| Summary of Recoverable Amount of Assets |
The recoverable amounts of the assets as of December 31, 2024 and 2023, corresponding to the discounted cash flows at the rate of 16.57% and 14.80%, respectively, as follows: | | | | | | | | | | 2024 | 2023 | | TAD, TDGL, TOMS (Storage terminals) | Ps. | 66,363,740 | | Ps. | 69,078,019 | | | | | | Primary logistics | — | | 111,366,873 | | | Total | Ps. | 66,363,740 | | Ps. | 180,444,892 | | | | |
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| Consolidated and Separate Financial Statements |
See below for a condensed statement of comprehensive income and condensed statement of financial position, summarizing the exploration and extraction contracts listed above (presentation non-audited): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Production-sharing contracts | As of /For the year ended
December 31, 2025 | EK-Balam | Block 2 | Block 8 | Block 16 | Block 17 | Block 18 | Block 29 | Block 32 | Block
33 | Block 35 | Santuario
El Golpe | Misión | Ébano | | Sales: | | | | | | | | | | | | | | | Net sales | 6,902,738 | | — | | — | | — | | — | | — | | — | | — | | — | | — | | 1,322,715 | | 163,310 | | 301,556 | | | Cost of sales | 10,626,151 | | 1,960,397 | | 51,374 | | — | | 1,297 | | 66,356 | | 40,565 | | — | | 739,888 | | 8,976 | | 1,832,043 | | 298,873 | | 267,389 | | | Gross income (loss) | (3,723,413) | | (1,960,397) | | (51,374) | | — | | (1,297) | | (66,356) | | (40,565) | | — | | (739,888) | | (8,976) | | (509,328) | | (135,563) | | 34,167 | | | Other income (loss), net | 31,820 | | (39,440) | | (199) | | — | | — | | 4,072 | | 1,624,444 | | 8,600 | | 9,267 | | 135 | | 11,579 | | 40,116 | | 694 | | | Administrative expenses | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | 11,362 | | — | | 59,915 | | | Operating income (loss) | (3,691,593) | | (1,999,837) | | (51,573) | | — | | (1,297) | | (62,284) | | 1,583,879 | | 8,600 | | (730,621) | | (8,841) | | (509,111) | | (95,447) | | (25,054) | | | Taxes, duties and other | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | | Net income (loss) | (3,691,593) | | (1,999,837) | | (51,573) | | — | | (1,297) | | (62,284) | | 1,583,879 | | 8,600 | | (730,621) | | (8,841) | | (509,111) | | (95,447) | | (25,054) | | | Cash and cash equivalents | 15 | | 316,966 | | 2,060 | | — | | — | | 132,059 | | 67,989 | | 233,010 | | — | | — | | — | | — | | — | | | Accounts receivable | 947,826 | | 216,235 | | 158,934 | | 82,503 | | 80,827 | | 39,717 | | 7,242 | | 91,894 | | 411,118 | | 430,051 | | 4,406,596 | | 2,496,425 | | 770,978 | | | Total current assets | 947,841 | | 533,201 | | 160,994 | | 82,503 | | 80,827 | | 171,776 | | 75,231 | | 324,904 | | 411,118 | | 430,051 | | 4,406,596 | | 2,496,425 | | 770,978 | | | Wells, pipelines, properties, plant and equipment, net | 38,921,022 | | — | | — | | — | | — | | — | | — | | — | | — | | — | | 1,360,531 | | 1,489,379 | | 491,673 | | | Other assets | — | | 12,111 | | 239 | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | | Total assets | 39,868,863 | | 545,312 | | 161,233 | | 82,503 | | 80,827 | | 171,776 | | 75,231 | | 324,904 | | 411,118 | | 430,051 | | 5,767,127 | | 3,985,804 | | 1,262,651 | | | Suppliers | 29,467,794 | | 21,988 | | 5,732 | | 185,767 | | 209,357 | | 738 | | 14,423 | | 1,007 | | 2,086,425 | | 820,339 | | 9,825,462 | | 4,866,394 | | 2,265,053 | | | Taxes and duties payable | (19,642) | | 1,303 | | 1,392 | | — | | — | | 1,931 | | 1,118 | | — | | — | | — | | — | | 474 | | — | | | Other current liabilities | 3,569,254 | | 3,432,817 | | 685,589 | | 53,145 | | 42,816 | | 640,900 | | 64,609 | | 499,376 | | 300,115 | | 47,795 | | 1,238,160 | | 1,816,053 | | 317,174 | | | Total liabilities | 33,017,406 | | 3,456,108 | | 692,713 | | 238,912 | | 252,173 | | 643,569 | | 80,150 | | 500,383 | | 2,386,540 | | 868,134 | | 11,063,622 | | 6,682,921 | | 2,582,227 | | | Equity (deficit), net | 6,851,457 | | (2,910,796) | | (531,480) | | (156,409) | | (171,346) | | (471,793) | | (4,919) | | (175,479) | | (1,975,422) | | (438,083) | | (5,296,495) | | (2,697,117) | | (1,319,576) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | License contracts | As of /For the year ended
December 31, 2025 | Trión | Block 3 | Block 2 | Block 5 | Block 18 | Block 22 | Cárdenas Mora | Ogarrio | Miquetla | | Sales: | | | | | | | | | | | Net sales | — | | — | | — | | — | | — | | — | | 893,766 | | 849,310 | | 165,325 | | | Cost of sales | 859,597 | | 753 | | 6,491 | | 221,061 | | 238,545 | | 4,896 | | 429,711 | | 467,395 | | 79,863 | | | Gross income (loss) | (859,597) | | (753) | | (6,491) | | (221,061) | | (238,545) | | (4,896) | | 464,055 | | 381,915 | | 85,462 | | | Other income (loss), net | (69,368) | | 5 | | — | | 816,333 | | 753,132 | | 57 | | 15,622 | | (14,079) | | (1,145) | | | Administrative expenses | — | | — | | — | | — | | — | | — | | — | | 37,084 | | 27,582 | | | Operating income (loss) | (928,965) | | (748) | | (6,491) | | 595,272 | | 514,587 | | (4,839) | | 479,677 | | 330,752 | | 56,735 | | | Taxes, duties and other | — | | — | | — | | — | | — | | — | | — | | — | | — | | | Net income (loss) | (928,965) | | (748) | | (6,491) | | 595,272 | | 514,587 | | (4,839) | | 479,677 | | 330,752 | | 56,735 | | | Cash and cash equivalents | — | | — | | — | | — | | — | | — | | 2,398 | | — | | — | | | Accounts receivable | 190,070 | | 109,361 | | 742,289 | | 23,960 | | 25,519 | | 616,217 | | 3,091,751 | | 6,806,758 | | 650,046 | | | Total current assets | 190,070 | | 109,361 | | 742,289 | | 23,960 | | 25,519 | | 616,217 | | 3,094,149 | | 6,806,758 | | 650,046 | | | Wells, pipelines, properties, plant and equipment, net | 6,116,609 | | — | | — | | — | | — | | — | | 1,731,779 | | 1,494,352 | | 259,076 | | | Total assets | 6,306,679 | | 109,361 | | 742,289 | | 23,960 | | 25,519 | | 616,217 | | 4,825,928 | | 8,301,110 | | 909,122 | | | Suppliers | 7,235,644 | | 288,962 | | 1,118,014 | | 89,438 | | 99,996 | | 1,104,226 | | 8,586,315 | | 8,426,002 | | 838,295 | | | Taxes and duties payable | — | | — | | — | | 6,490 | | 6,928 | | — | | 7 | | — | | — | | | Other current liabilities | — | | 50,949 | | 181,398 | | 317,893 | | 342,319 | | 105,166 | | 161,889 | | 4,238,147 | | 64,007 | | | Total liabilities | 7,235,644 | | 339,911 | | 1,299,412 | | 413,821 | | 449,243 | | 1,209,392 | | 8,748,211 | | 12,664,149 | | 902,302 | | | Equity (deficit), net | (928,965) | | (230,550) | | (557,123) | | (389,861) | | (423,724) | | (593,175) | | (3,922,283) | | (4,363,039) | | 6,820 | | | | | | | | | | | |
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