Pemex CEO Rodríguez faces mounting pressure as debt, accidents and output shortfall deepen crisis

Pemex CEO Victor Rodríguez’s future is increasingly uncertain as Mexico’s state oil company grapples with internal divisions, safety incidents, missed production targets and heavy debt, Reuters reported May 13, 2026, citing four people familiar with the matter. Pemex is producing about 1.6 million barrels per day, below a 1.8 million bpd target, and posted a $2.6 billion first-quarter loss despite oil prices rising above $100 a barrel. The company has $79 billion in debt and owes $20.8 billion to suppliers and contractors. President Claudia Sheinbaum has become more involved in Pemex operations and senior appointments, limiting Rodríguez’s authority, the sources said. Rodríguez, 69, twice offered to resign in 2025 but was persuaded to remain. Speculation over successors has included Sheinbaum chief of staff Lázaro Cárdenas Batel. Pemex and Mexico’s presidency did not respond to Reuters requests for comment.