Under the Mexican government's newly unveiled 2027 budget proposal, financial assistance for state-owned oil giant Pemex is set to plummet by nearly 70% compared to this year's allocation.

The proposed plan, submitted to Congress by President Claudia Sheinbaum on Tuesday evening, earmarks just 81.1 billion pesos (approximately $4.8 billion) for debt servicing support at Pemex through 2027. This marks a sharp decline from the 263.5 billion pesos budgeted for the current year. The government projects that Pemex will generate a fiscal surplus of 95.1 billion pesos (around $5.6 billion) during the same period.

This latest proposal follows significant financial moves last year, when the 2026 budget directed $14 billion in capital injections to Pemex for debt repayment. Additionally, the government executed a $10 billion buyback operation to cover maturing obligations this year. According to the company's most recent investor presentation, its debt maturities for the upcoming year stand at roughly $5 billion.