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: 3164 (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
Royalties
Royalties: amounts related to January production for con...
26/03/26
iBEM26
iBEM 2026 begins in Salvador with debates on energy secu...
25/03/26
iBEM26
iBEM 2026 brings together specialists and discusses the ...
25/03/26
Petrobras
Museum of Petroleum and New Energies will operate in the...
19/03/26
Macaé Energy
Macaé Energy: debates focus on the strategic role of nat...
18/03/26
Macaé Energy
Macaé Energy 2026 strengthens the municipality’s positio...
17/03/26
Macaé Energy
With record-breaking attendance, the Macaé Energy trade ...
17/03/26
Offshore Technology & Subsea Engineering
Trendsetter Vulcan Offshore Customizes Tethered BOP Tech...
17/03/26
Macaé Energy
FIRJAN: Technical Conference is a Highlight of Macaé Ene...
16/03/26
Permanent Offer
Inclusion of 15 New Blocks in Permanent Offer (OPP) Bid ...
14/03/26
Rio de Janeiro
Rio City Hall Signs Agreement to Transfer Automóvel Club...
13/03/26
Result
Porto do Açu Sets Historic Record in Cargo Handling
13/03/26
Environment
Following COP30, IBP Organizes Meeting to Debate Brazil'...
13/03/26
Jet Fuel
Resolution Approved to Revise Aviation Kerosene Quality ...
13/03/26
Biofuels
ANP to Participate in Research Project on Increasing Bio...
13/03/26
Results
Petrobras Paid R$ 277.6 Billion in Taxes and Government ...
13/03/26
North Sea
Two new discoveries in the North Sea
11/03/26
Macaé Energy
At Macaé Energy 2026, FIRJAN Promotes Special Edition of...
09/03/26
iBEM26
Innovation, ESG, and Sustainability
06/03/26
iBEM26
Artificial Intelligence drives increased demand for elec...
02/03/26
FIRJAN
Despite Tariff Hikes, Oil Drives Rio's Trade Flow Up 9% ...
27/02/26
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.