Law of the State Public Enterprise, Petróleos Mexicanos (Ley de la Empresa Pública del Estado, Petróleos Mexicanos)

This Act provides the regulatory framework governing Petróleos Mexicanos (PEMEX) as a State-owned public enterprise, established under Articles 25, 27, and 28 of the Mexican Constitution. It affirms PEMEX's legal personality, operational and management autonomy, and special regulatory regime. The law mandates that PEMEX’s core functions encompass the exploration, transformation, and commercialisation of hydrocarbons and their derivatives, as well as the development of alternative energy sources, all in service of national sovereignty, energy security, sustainability, self-sufficiency, and energy justice.Crucially, the law integrates principles of sustainability and energy transition into PEMEX’s strategic governance. It requires a five-year Development Programme to be updated annually, detailing objectives, clean energy use, and transition planning in line with international obligations. Articles 16 and 49 establish institutional mechanisms to align corporate governance with sustainability, mandating a Sustainability Plan approved by the Board and overseen by a Sustainability Committee chaired by an independent director and comprising key ministries. The law obliges PEMEX to reduce GHG emissions and promote a low-carbon economy through targeted programmes, while ensuring transparency and accountability according to national and international standards.