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: 3163 (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
Partnership
Halliburton and Shape Digital establish strategic collab...
06/05/26
ROG.e
ROG.e 2026 will bring together CEOs from TotalEnergies, ...
06/05/26
International
At OTC Houston 2026, Firjan SENAI SESI expands its reach...
06/05/26
International
At OTC Houston 2026, Firjan SENAI holds international ed...
04/05/26
Recognition
BRAVA Energia receives top global industry award for Atl...
04/05/26
International
Brazil reaffirms technological leadership at OTC Houston...
04/05/26
Pre-Salt
PPSA closes 2025 with a net profit of R$ 30.1 million
04/05/26
Results
With 5.531 million boe/d, Brazil continues with record o...
04/05/26
International
Brazil reaffirms technological leadership at OTC Houston...
02/05/26
Environment
Brazil appears among world's largest methane emitters in...
30/04/26
PPSA
Federal Government receives R$ 917.32 million from Tupi ...
07/04/26
Study
Brazil increases dependence on thermal power, but lack o...
07/04/26
Permanent Offer
Permanent Production Sharing Offer (OPP): ANP publishes ...
07/04/26
Taxation
Infis Consultoria promotes the 4th Oil & Gas Taxation Se...
07/04/26
Green Hydrogen
Study at RCGI maps regions with the greatest potential f...
07/04/26
iBEM26
Goldwind advances in Bahia with factory in Camaçari and ...
27/03/26
iBEM26
Bahia showcases its bioenergy potential and reinforces i...
27/03/26
iBEM26
ESG practices in the renewable energy sector are highlig...
26/03/26
iBEM26
ABPIP highlights the role of independent producers in en...
26/03/26
iBEM26
Jerônimo Rodrigues highlights Bahia’s potential in the e...
26/03/26
Campos Basin
New oil discovery in the pre-salt of the Campos Basin
26/03/26
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.