Pemex and STPRM Agree on 5.5% Wage Increase, the Largest in 24 Years
Pemex and the STPRM closed the 2026-2027 wage review with a 5.5% direct salary increase, the largest in 24 years, plus 2% in benefits. A breakdown of the deal.
Petróleos Mexicanos (Pemex) and the Sindicato de Trabajadores Petroleros de la República Mexicana (STPRM) reached a 2026-2027 wage agreement on September 4, 2026, setting a 5.5% direct salary increase, the largest in 24 years, El Financiero reported.
The agreement exceeds Mexico's most recent inflation rate of 3.12%, per INEGI data cited by Bloomberg Línea, and was signed after nearly two months of negotiation. The STPRM represents 79.3% of Pemex's workforce, which closed 2025 with 126,905 non-temporary workers, down from 129,198 a year earlier, according to El Financiero. The review arrives as the state oil company records its lowest crude output in four decades, at 1.66 million barrels per day, carrying financial debt of US$77.5 billion and supplier payables exceeding US$21 billion, per Bloomberg Línea. Pemex is the primary link between Mexico's energy system and the U.S. market, shipping crude to Gulf Coast refineries and importing fuels in return, so the stability of its workforce and finances is watched across the region.
The increase breaks down as 4% to the base salary and an average 1.5% adjustment to the tabulated wage schedule, together delivering the 5.5% direct impact. With an additional 2% in benefits, the total raise from this review reaches 7.5%, per the union's statement cited by El Financiero and Global Energy. Bloomberg Línea reported separately that gas and gasoline benefits will rise 3.12%, in line with inflation, effective August 1, 2026. Pemex Director General Juan Carlos Carpio said dialogue must become a permanent practice for jointly addressing the company's challenges. STPRM Secretary General Ricardo Aldana Prieto said the negotiation accounted for Pemex's operational and financial viability. El Financiero noted that no increase of this magnitude had been agreed since 2002, when the raise was also 5.5%.
The next focal point is the 2027 Budget proposal, which will determine whether Pemex receives additional federal support beyond the US$50 billion program announced in 2025 to allow the company to meet its obligations independently starting in 2027.
This article was drafted with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.
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This article was drafted with AI assistance from verified sources and reviewed by a human editor before publication.