Collaborative Effort with CFE
Petróleos Mexicanos (Pemex), in partnership with the Federal Electricity Commission (CFE), plans to build an electricity generation capacity of over 2,400 megawatts (MW) by 2030. This ambitious project will require an investment of more than 51 billion pesos, according to Víctor Rodríguez Padilla, Pemex’s General Director.
Efficiency through Cogeneration
The focus of Pemex’s investment is on efficient cogeneration, which harnesses thermal processes for electricity generation. This technology will be implemented in refineries and petrochemical plants.
Project Details
Rodríguez Padilla detailed three cogeneration plants in his presentation:
- Refinery of Tula: An investment of approximately 17,357 million pesos for a capacity of up to 794 MW.
- Refinery of Salina Cruz: An investment of 16,475 million pesos for a capacity of up to 728 MW.
- Petroquímico Cangrejera Complex: An investment of 17,439 million pesos for a maximum generation capacity of 900 MW.
Pemex aims to generate steam and electricity for its work centers and supply excess electricity to the Wholesale Electricity Market (MEM).
Government’s Energy Development Plan
Pemex’s electricity project aligns with the Mexican government’s energy development plan, which projects Pemex’s electricity generation participation to rise from 0.6% in 2026 to 4.6% by 2030. This growth will enable the Mexican state to achieve a 59% share in national electricity generation by 2030, surpassing the legal minimum of 54% set by the 2024 constitutional reform on strategic industries.
Pemex’s Diversification Strategy
This electricity project is part of Pemex’s strategy to establish new business verticals, as outlined in its 2025-2035 Strategic Plan. The company intends to leverage earth energies, geoenergy, cogeneration from oil wells, lithium recovery from petroleum brine, and synergies with the petrochemical industry and new technologies.
Operational Efficiency
During his first year in administration, Pemex has successfully reduced operational costs. Rodríguez Padilla reported significant savings in drilling, projecting a 20,000 million peso cost reduction by 2026. The total production cost of hydrocarbons is expected to drop from 31.5 USD per barrel in 2023 to 22.8 USD per barrel in 2025, a 27.6% reduction.
Key Questions and Answers
- What is the main goal of Pemex’s investment? The primary objective is to build an electricity generation capacity of over 2,400 MW by 2030 through efficient cogeneration in refineries and petrochemical plants.
- How will Pemex’s electricity project contribute to the Mexican government’s energy goals? This project will help the Mexican state achieve a 59% share in national electricity generation by 2030, surpassing the legal minimum of 54%.
- What other areas is Pemex exploring for diversification? In addition to electricity, Pemex plans to explore opportunities in logistics services, lithium production, and the commercialization of alternative combustibles like hydrogen and biofuels.
- How has Pemex improved operational efficiency? Under Rodríguez Padilla’s leadership, Pemex has achieved significant cost reductions in drilling and lowered the total production cost of hydrocarbons by 27.6%.
