The combined labor liabilities of Petróleos Mexicanos (Pemex) and the Comisión Federal de Electricidad (CFE) exceeded 2.06 trillion pesos at the close of the first half of 2026. The figure, reported this week by El CEO, combines 1.50 trillion pesos from the oil company and 554,200 million pesos from the electricity utility.
The increase is driven by pensions, retirement benefits, post-retirement medical services, and seniority bonuses, which account for the bulk of the obligations. At Pemex, liabilities grew 2.5% from 1.47 trillion pesos at year-end 2025; at CFE, the increase was 0.14%, to 553,434 million pesos. The oil company's labor liability represents 37.6% of its total liabilities, the second-highest level in the period analyzed, according to the Instituto Mexicano para la Competitividad (IMCO) in its analysis Pemex en la Mira, cited by Expansión. The figure matters for public finances because the support the federal administration provides to state-owned productive enterprises, particularly Pemex, is defined in each budget cycle.
CFE closed the second quarter with 98,471 active workers and 54,987 retirees, while Pemex maintains a workforce of approximately 140,000. On the labor front, the Unión Nacional de Técnicos y Profesionistas Petroleros (UNTyPP) agreed in June on a maximum pension cap of 134,290 pesos per month, paid in bi-weekly installments. The Sindicato de Trabajadores Petroleros de la República Mexicana (STPRM) keeps its collective bargaining negotiations open, with an 8% wage increase on the table and a deadline of August 30. The Director of Economic Development at IMCO, Oscar Ocampo, stated that the figures represent "very significant pressures" for the public companies, particularly for Pemex given its financial situation. Ocampo added that adjustments to the so-called golden pensions have a minimal impact on savings for the state companies, because they apply only to managerial staff.
The STPRM negotiation concludes on August 30 and its outcome will be reflected in Pemex's next labor cost cycle. The evolution of both companies' liabilities will be a central input in the budget discussions of the coming months.
This article was written with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.