MEXICO CITY--Petroleos Mexicanos reversed its operating loss in the second quarter as sales increased, while its net profit fell on higher taxes and duties and a smaller foreign-exchange gain, the Mexican state oil company said Friday.
Pemex reported net profit of 18 billion pesos ($1.04 billion) for the April-June period, down from MXN59.52 billion in the year-earlier quarter.
Revenue rose 30%, to MXN510.44 billion, driven by higher crude oil prices, increased volume of distillate exports, and higher domestic sales of diesel, gasoline and jet fuel.
Operating profit in the quarter was MXN85.48 billion, compared with a loss of MXN11.1 billion in the year-earlier period. Earnings before interest, taxes, depreciation and amortization almost doubled, to MXN144.23 billion.
Crude oil and condensates production rose 1.7%, to 1.66 million barrels a day, and natural gas output increased by 12%, to 4 billion cubic feet a day. "The operating strategy focused on accelerating the development of key fields, particularly Ixachi and Bakte, while improving well intervention turnaround times," Pemex said.
Pemex refineries processed 1.01 million barrels a day of crude oil, up 2.9% from the second quarter of 2025, with output of petroleum products rising by 3.4%, to 1.03 million barrels a day.
The company's debt stood at $77.5 billion at the end of the quarter, down from $79 billion at the end of March.
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