Carlos Slim, Mexico’s wealthiest individual, has identified the ongoing crisis at Petróleos Mexicanos (Pemex) as perhaps the most significant issue currently facing the country. During his annual press conference, the 86-year-old América Móvil owner highlighted the decline in oil production and the precarious situation of the state-owned company as primary concerns.
The Pemex Crisis and Production Declines
Pemex is currently navigating a profound crisis characterized by falling production levels, a lack of investment, and a debt totaling approximately $85 billion. The company’s financial struggles were further highlighted by a reported loss of roughly $2.5 billion at the close of 2025.
Slim, whose fortune is estimated at $125 billion, noted that the company must prioritize oil production to stabilize. He suggested that it would have been impressive to see production reach two million barrels per day, particularly with the current price of oil at $100 per barrel.
Investment Strategies and Economic Context
To address these energy challenges, Slim announced in September 2025 that he would invest nearly $2 billion toward drilling approximately thirty Pemex wells. He expressed hope that combined public and private efforts could increase daily production by about 800,000 barrels, adding to the current daily output of 1.6 million barrels.
In addition to his energy-related interests, Slim announced that he plans to make approximately $5 billion in investments this year, though he did not provide specific details regarding these expenditures. During his remarks, he also congratulated President Claudia Sheinbaum on her management of the economy, while simultaneously criticizing Moody’s decision to downgrade Mexico’s sovereign debt rating.
Slim declined to address more sensitive political matters, such as the accusations from the United States against Governor Rubén Rocha Moya, who appeared before the Fiscalía General de la República (FGR) today.
Looking ahead, the integration of private investment into Pemex’s operations could potentially stabilize production levels. However, the company’s ability to manage its $85 billion debt remains a critical factor in whether these financial injections lead to long-term stability.
Frequently Asked Questions
- What did Carlos Slim identify as Mexico’s primary problem?
Slim identified the crisis at Petróleos Mexicanos (Pemex) and the decline in oil production as the country’s most significant issues. - What is the current debt status of Pemex?
The company is facing a deep crisis with a debt that is approximately $85 billion. - How much did Slim announce in investments for this year?
Slim announced that he will make approximately $5 billion in investments this year, though specific details were not provided.
How much impact do you believe private investment will have on Mexico’s state-owned energy sector?
