Mexico’s government on 5 August set out a comprehensive rescue plan designed to move Petróleos Mexicanos toward financial self-sufficiency by 2027. President Claudia Sheinbaum said the state driller, which last week reported US$98.8 billion in financial debt, will rely on federal help only for heavy amortisations due in 2025 and 2026 and should cover its own obligations thereafter. Finance Minister Édgar Amador Zamora detailed a three-pillar strategy: lighter fiscal charges, targeted debt relief and a new investment fund. Royalty rates have already been cut to 30 % for crude and 12 % for non-associated gas, easing cash flow. A government-backed vehicle aims to raise up to 250 billion pesos (about US$13 billion) in 2025, while Treasury support will focus on refinancing maturities so that total debt falls 26 % from 2019 levels to roughly US$77 billion by 2030. Pemex Chief Executive Víctor Rodríguez Padilla said operational priorities include stabilising crude output at 1.8 million barrels a day, advancing the Zama and Trion fields and reactivating 21 mature or frontier projects through mixed contracts with private partners. The company plans three new gas pipelines and cost-cutting measures across refining and petrochemicals. Ratings agency Fitch recently lifted Pemex to BB, citing the stronger government backstop outlined in the plan.