Banobras Ready to Inject Capital into Pemex; Plans to Deploy 130,000 Million Pesos

Jorge Mendoza, Director General of Banco Nacional de Obras y Servicios Públicos (Banobras), stated on August 24, 2026, that the development bank is ready to inject capital into Pemex's strategic projects in exploration, production, refining, and petrochemicals, though no decision has been taken yet. He made the announcement upon leaving the Infrastructure Investment Forum.

Petróleos Mexicanos (Pemex) is reviewing its expenditure, revenues, and year-end investment program, Mendoza explained, and Banobras has "all the infrastructure in place" should the oil company require capital in the short term. The mechanism under consideration involves expanding an existing investment trust, which could be activated after the presentation of the 2027 Economic Package, normally presented on September 8. The Economic Package sets the financing program, revenues, and budget for state enterprises such as Pemex and the Federal Electricity Commission (CFE), and requires approval from the Chamber of Deputies and the Senate, Mendoza noted. According to Milenio, development banking is already seeing results from the mixed investment vehicles: Pemex has signed five agreements in petrochemicals, primarily in fertilizers.

On scale, Mendoza told Milenio that Banobras has disbursed 200,000 million pesos since the start of the current administration, and that the plan for this year is to deploy approximately 130,000 million pesos, with roads and energy accounting for close to 70% of disbursements. Forbes México reports that the portfolio includes 21 Pemex projects, 10 of them mixed investment projects in exploration and production, and that Escolín will be Mexico's largest urea plant, built by Pemex and Mota-Engil with the National Infrastructure Fund contributing 15% of the private financing. Banobras has also launched four road projects with mixed investment, and Mendoza left open the possibility of a second round of the Onyx investment vehicle.

The key indicator to watch is the 2027 Economic Package, normally presented on September 8, which will establish Pemex's financing program. In mixed-investment projects, private capital enters first, followed by public resources, Mendoza noted.

This article was prepared with the assistance of artificial intelligence based on verified sources and reviewed by a human editor before publication.