Pemex reported on Friday net loss 79 thousand 134 million pesos in the third quarter of 2023, affected by decrease in total salesA increase in expenses And exchange rate losses.
The net result was more than the P52,003 million loss recorded for the same period in 2022.. For nine months of the year, net profit amounted to the equivalent of $172 million.
The total income of Pemex, the country’s largest taxpayer, decreased by 27% compared to last yearup to 461 thousand 809 million pesos due to Local sales decreased by 27.5%. and 26% of exports due to lower global crude oil prices.
In the third quarter Sales in the US accounted for 35.4% of total sales. and 79.4% of its exports, the company said.
Pemex said that Its financial debt fell to $105.8 billion. compared to $110.5 billion at the end of the previous quarter, due to support received from government and the appreciation of the peso against the dollar.
The company stated that this review of various revolving loans approximately $9.5 billion for various purposes. The remainder of the year depreciates $1.5 billion of bonds and short-term loans, but Next year they will grow to $10.9 billion..
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In terms of government support, the company added that during this period it received P71.7 billion for debt repayment, while in October it received P55.9 billion for debt repayment. strengthen your financial position.
Government of the President Andres Manuel Lopez Obradornationalist on energy issues, has supported Pemex since its founding. large capital injections and tax cuts try to strengthen your finances.
Octavio Romero
CEO of Pemex, Octavio RomeroHe stated this at a conference with analysts after the publication of financial results that the oil company received from the government. 1.4 billion pesos support which includes capital contributions of P806 billion between 2019 and the third quarter of this year for support alone.
In addition to saving P457 billion from the reduction of the right to profit share (DUC), the largest tax the company paid.
Under the current government this figure was gradually decreasing from 65% to the current 40%. Next year it will be thirty%.
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Pemex, Mexico’s largest oil operator, produced on average 1.85 billion barrels per day of crude oil and contracted in the third quarter, excluding production with partners, according to its report, up 4.9% year-over-year.
The increase in pumping occurred due to consolidation of production wells from key fields such as Keski, Tupilco Profundo and Ixachihe added in its quarterly results report.
Crude oil processed at local refineries averaged 778,000 barrels per day, down 3.6% from the same quarter last year, he said. Minatitlan, Veracruz and Madero, Tamaulipas.
As for oil production, there was a decrease of 1.9%, to an average of 787 thousand barrels per day, of which 240 thousand barrels per day were gasoline, 136 thousand barrels per day of diesel fuel, 39 thousand barrels per day for jet fuel and 372 thousand barrels per day of other oil products and gas. “, Pemex said.
According to his balance, Debt to suppliers jumped to $16.861 million At the end of the third quarter, this is 5.3% more than at the end of 2022.
The company clarified that the amount includes some reserves and payments that are not necessarily due and who works with Minister of Finance try to make payments more flexible to accommodate the new administration 2024 ordered accounts.
(Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
