Mexico City — Mexico’s state-owned oil company Pemex reported a 256 billion peso ($14 billion) second-quarter net loss on Friday, according to a filing with the Mexican stock exchange, after posting significant profits in the year-ago period.The quarterly loss compared to gains to more than $25.4 billion in the same period last year.
Revenues for the country’s biggest company during the April-to-June period this year totaled 409.5 billion pesos, essentially flat with revenue from the second quarter of 2023.
The oil company reported crude oil and condensate liquids production for the three-month period of 1.784 million barrels per day (bpd).
During the quarter, its refineries processed 886,000 bpd, according to the filing.
Pemex, one of the world’s most indebted oil companies, said its total financial debt stood at $99.4 billion as the end of June.
($1 = 18.2862 Mexican pesos at end-June)
Reporting by Noe Torres and Stefanie Eschenbacher; Editing by David Alire Garcia – Reuters
