Energy Advisor 2026-02-27 – Inter-American Dialogue

LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

February 27, 2026

To What Extent Has Mexico’s Oil Sector Made a Recovery?

Mexico’s Pemex, led by CEO Víctor Rodríguez, has reduced its total debt burden by more than 20 percent since last September. Pemex’s oil and gas production remains down by roughly half relative to the early 2000s. // File Photo: Mexican Government.

Q

Mexican state-run oil firm Pemex’s level of outstanding financial debt is its lowest in 11 years at $84.5 billion amid ongoing government assistance packages and improving refinery output, Pemex CEO Víctor Rodríguez announced on Feb. 4. Pemex’s financial improvement comes as it attempts to reverse declining upstream production, with the firm launching multiple mixed-capital exploration projects in recent months alongside private firms including billionaire Carlos Slim’s Grupo Carso. What key trends are currently shaping the nature of major investments in Mexico’s upstream oil and gas sector? To what extent can Mexico feasibly boost its national crude oil production level this year? How has Mexico’s investment landscape for private oil firms changed under the administration of President Claudia Sheinbaum?

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Top News

Third Oil Tanker Seized in Indian Ocean by U.S.

U.S. military forces interdicted a Venezuela-linked vessel subject to Iran-related sanctions on Tuesday in the Indian Ocean. U.S. forces in recent months have seized two other sanctioned vessels there, in addition to seven in the Atlantic.

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Supreme Court Hears Exxon’s Case Against Cuba

ExxonMobil presented arguments before the U.S. Supreme Court on Monday in the firm’s lawsuit against Cuba’s government over the 1960 expropriation of Standard Oil’s assets in the country.

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Colombia Can’t Import Gas From Venezuela: Palma

Colombia is unlikely to get the authorization that it needs from the U.S. government to begin importing natural gas from neighboring Venezuela, said Colombian energy minister Edwin Palma Egea.

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.