International

Pemex posts US$4bn Q2 loss

Mexico's state-owned oil firm Pemex has posted a 53bn-peso (US$4.09bn) second-quarter loss, almost 7% wider than the year-ago period.

BNamericas
28/07/2014 20:19
Visualizações: 3162 (0) (0) (0) (0)

Mexico's state-owned oil firm Pemex has posted a 53bn-peso (US$4.09bn) second-quarter loss, almost 7% wider than the year-ago period.

 

In a statement, the company said earnings had been hit by increased operating costs and inventory acquisitions.

 

Despite the deficit, Pemex reported a 4.1% increase in Q2 revenue to 409bn pesos.

 

During an investor conference call, Pemex's chief financial officer Mario Beauregard cited tax liabilities as an obstacle to profitability.

 

The company paid 218bn pesos to Mexico's treasury during Q2, about 5% more than the same period last year.

 

Crude production from April to June was 2.45Mb/d, down from its 2013 average of 2.52Mb/d.

 

The Q2 results came as Mexico's congress deliberates over secondary legislation that will open the country's energy sector to private investors.

 

The reform is expected to provide international firms with access to deepwater and unconventional plays as soon as next year.

 

"Pemex needs to redefine its future strategy as a company that generates value and not as a state monopoly," Pemex added in the statement.

 

Most Read Today
see see
BOGE2026
PetroReconcavo Discusses the Future of Oil and Gas at Ba...
29/05/26
BOGE2026
Lumina Group Makes Its Presence Felt at Bahia Oil & Gas ...
29/05/26
BOGE2026
Bahia Brings Together Industry, Innovation, and Business...
28/05/26
Royalties
Amounts related to March production for concession and t...
28/05/26
BOGE2026
Oil & Gas Expansion Boosts Demand for Industrial Waste T...
28/05/26
BOGE2026
BRAVA Energia Marks Presence at Bahia Oil & Gas Energy 2...
27/05/26
IBP
Brazil Can Expand Its Prominence as a Global Energy Supp...
27/05/26
Investments
Petrobras and Transpetro announce R$ 2.8 billion in inve...
27/05/26
International Company News
Jumbo orders a new class of versatile heavy lift vessels
27/05/26
BOGE2026
The Largest Oil and Gas Event in the North and Northeast...
25/05/26
BOGE2026
With production on the rise, independent players lead di...
25/05/26
ANP
ANP Workshop Debates Boosting Oil and Gas Exploration in...
25/05/26
BOGE2026
ANP participates in Bahia Oil & Gas Energy 2026, in Salvador
25/05/26
Fenasucro
Future Fuel consolidates Brazilian pioneering role and b...
20/05/26
Partnership
Radix partners with Repsol Sinopec Brasil and PUCRS to c...
20/05/26
Communication
The behind-the-scenes story of communication and adverti...
20/05/26
Result
Total oil production under production-sharing regime hit...
20/05/26
BOGE2026
Global geopolitics’ impact on the local oil sector to be...
19/05/26
International Women's Day
IBP celebrates International Women at Sea Day and reinfo...
19/05/26
Pre-Salt
Mero Field in the Santos Basin Pre-Salt Receives Unprece...
14/05/26
Results
Petrobras reports net profit of R$ 32.7 billion in the f...
14/05/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.