Mexican Finance Secretary Reports Fuel Smuggling Figures to the Senate
Mexican Finance Secretary Edgar Amador Zamora told the Senate that authorities detected 109 million liters of undeclared hydrocarbons between September 2025 and June of this year, generating 4 mil 600 millones de pesos in unpaid value-added and special production taxes, jornada.com.mx reported. The disclosure came during a legislative appearance in Mexico City focused on tax collection and state energy finances.
Legislative Scrutiny Over Fiscal Fuel Evasion
Questioned by opposition lawmakers regarding illegal fuel trafficking, Amador Zamora outlined federal efforts to establish tracking systems from the point of entry or production to final retail sale. The Ministry of Finance is working on modifications to the Law on the Special Tax on Production and Services (IEPS) to increase operational traceability through volumetric controls and technological tools, according to jornada.com.mx.
Parallel enforcement actions by the Tax Administration Service (SAT) include canceling 2 mil 205 billing seals for illegal fuel distributors and instituting automated controls in digital tax receipts. The Ministry of Energy restricted fuel invoicing privileges strictly to holders of active permits.
When opposition legislators pressed for details regarding an investigation into specific individuals linked to political figures, the secretary stated that the Financial Intelligence Unit (UIF) holds no active inquiries into the mentioned person, jornada.com.mx reported.
Revenue Growth Without Tax Reform
Amador Zamora emphasized that recent revenue increases stem from administrative efficiency and closing loopholes against tax evasion rather than creating new taxes or raising existing rates. Over the prior two years, nominal collections reached 776 mil millones de pesos, putting total projected revenue on track to hit 9.2 millones de pesos by 2027, according to jornada.com.mx.
Pemex Debt Falls as Credit Rating Rises
Addressing questions concerning state-owned oil company Petróleos Mexicanos (Pemex), the finance chief reported that debt levels under President Claudia Sheinbaum’s administration have fallen to their lowest point since 2024. Rating agencies responded by upgrading the company’s credit rating for the first time in 12 years, and Pemex successfully returned to capital markets with local bond issuances oversubscribed twofold, jornada.com.mx reported.
Production figures show stabilization and an increase of 1.65 million barrels of hydrocarbons, while imports dropped from 347 to 331 mil millones de barriles diarios. Pemex posted a net profit of 18 million pesos alongside an operating profit of 85 mil 500 millones de utilidad operativa. At the same time, direct budgetary allocations to the petroleum company are scheduled to drop 70 percent, falling from 263 mil millones de pesos in 2026 to 81 mil millones de pesos for the upcoming budget year, according to jornada.com.mx.
Questions Regarding State Budget Allocations
Senate President Higinio Martínez commended the respectful tone of the proceedings while noting that regional legislators consistently lobby for additional funding to support their home districts. Amador Zamora agreed to submit written replies to questions that time constraints prevented him from answering during the session, jornada.com.mx reported.
Related reading