{"id":6935,"date":"2026-10-11T00:00:00","date_gmt":"2026-10-10T21:00:00","guid":{"rendered":"https:\/\/mikhailinvest.com\/pemex-needs-nearly-110-billion-to-hit-mexicos-output-targets\/"},"modified":"2026-10-11T00:00:00","modified_gmt":"2026-10-10T21:00:00","slug":"pemex-needs-nearly-110-billion-to-hit-mexicos-output-targets","status":"publish","type":"post","link":"https:\/\/mikhailinvest.com\/ru\/pemex-needs-nearly-110-billion-to-hit-mexicos-output-targets\/","title":{"rendered":"Pemex Needs Nearly $110 Billion to Hit Mexico’s Output Targets"},"content":{"rendered":"

Mexico is dependent on oil and gas imports for two-thirds of its energy consumption, despite the fact that the country has abundant domestic fossil fuel resources. But instead of exploiting its own producing power to the greatest potential, Mexico relies on its neighbor to the north for the majority of its energy needs, leaving it in a vulnerable position. However, the answer to Mexico\u2019s energy insecurity is not building up more domestic oil and gas production and refining capacity, according to a recent assessment<\/a> from the International Institute for Sustainable Development (IISD). Rather, the report argues, the country\u2019s limited resources would be far better spent on diversifying its energy sector through the expansion of renewable energies and supportive infrastructure.<\/p>\n

Mexico\u2019s energy vulnerabilities stem from more than just its reliance on the United States to keep the lights on. The country has concerningly low levels of diversity in its energy mix, and extremely <\/em>concerning reserves of those energy resources it does rely on. At present, the country has just 2.4 days\u2019 worth of gas storage capacity<\/a>, leaving Mexico extremely exposed to shocks in supply or market volatility.\u00a0<\/p>\n

The Mexican government has responded to these pressing vulnerabilities by working to significantly increase national energy output, and especially oil and gas production and refining capacities. However, the IISD argues that this strategy is misguided. \u201cDomestic oil and gas production targets would come at very high costs and produce limited energy security gains,\u201d the IISD wrote in a \u043f\u0440\u0435\u0441\u0441-\u0440\u0435\u043b\u0438\u0437<\/a> accompanying the report.\u00a0<\/p>\n

\u201cPursuing the government\u2019s current oil and gas production targets would require around USD 160 billion in capital expenditure\u2014including nearly USD 110 billion from Pemex\u2014while developing uncommercial fields that could generate net losses of USD 17.4 billion over 15 years,\u201d the press release goes on to summarize. \u201cEven with this level of spending, production targets may not be met within the planned timeframe.\u201d<\/p>\n

Moreover, Mexico\u2019s development of its oil and gas sector would come at a major cost to the climate as well as the environment. Environmentalists have raised major concerns over the recent two-year partnership<\/a> forged by Brazil\u2019s Petrobras and Mexico\u2019s Pemex in June. The partnership between the two state-run fossil fuel companies aims to explore mature and deepwater oilfields in the Gulf of Mexico, warning that the project could majorly derail the countries\u2019 respective decarbonization commitments, significantly increase the risk of oil spills in the Gulf, and displace coastal communities.<\/p>\n

\u201cThis is an effort from the Mexican administration to increase oil barrels, but at what cost,\u201d Renata Terrazas, vice president of the Mexican branch of the marine environmental group Oceana was recently \u0446\u0438\u0442.<\/a> by Mongabay. \u201cRight now we\u2019re just guessing. There\u2019s no transparency about what this actually means, and that\u2019s one of the things that we fear the most.\u201d<\/p>\n

In addition to being more environmentally responsible, prioritizing investment in renewables just makes good economic sense for Mexico. The IISD suggests that Mexico would be better off investing in a more diversified and resilient energy system by building out and refurbishing energy grids and transmission infrastructure, increasing the development of distributed solar energy and other renewable energies, and increasing energy storage capacities.<\/p>\n

\u201cMexico has a choice about where to direct public investment. Investing billions in uncommercial oil and gas fields risks large losses without meeting the government\u2019s production targets, while investing in domestic renewable power, grids, and storage can cut imports, strengthen sovereignty, and attract private capital,\u201d said Luis Mart\u00ednez, co-author of the IISD report.\u00a0<\/p>\n

This assessment reflects a larger turning point in energy security at a global scale. In the past, fossil fuels have represented reliability and security, while renewable energy growth has been driven by policy and climate imperatives rather than economic and security strategy. That script has flipped<\/a>. Worldwide, renewable energy adoption is soaring as renewables simply become too cheap to fail<\/a> and increasingly represent a pathway toward energy independence.\u00a0<\/p>\n

\u0410\u0432\u0442\u043e\u0440: \u0425\u0435\u0439\u043b\u0438 \u0417\u0430\u0440\u0435\u043c\u0431\u0430 Oilprice.com<\/a><\/p>\n

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