financetom
Business
financetom
/
Business
/
Mexico's Pemex posts wider third-quarter loss of $8.2 billion
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Mexico's Pemex posts wider third-quarter loss of $8.2 billion
Nov 3, 2024 2:02 PM

MEXICO CITY (Reuters) -Mexican state-owned oil company Pemex reported a deeper 161.3 billion peso ($8.2 billion) third-quarter net loss on Tuesday, according to a filing with the Mexican stock exchange, compared to losses of around $4.5 billion in the year-ago period.

Revenues for the country's biggest company during the July-to-September period totaled 426.1 billion pesos.

The company noted that its financial debt for the three-month period totaled $97.3 billion.

President Claudia Sheinbaum took office at the start of this month, mostly pledging to continue government support for Pemex, much like her predecessor.

In its filing, Pemex disclosed it has received 145 billion pesos in assistance from state coffers during the quarter.

But some close to Sheinbaum have suggested she might be more open to some form of Pemex partnerships with private oil companies in a push to boost production amid massive debt.

The new president has said she would target what she has described as a sustainable oil output of 1.8 million barrels per day (bpd).

But over the years, the company has seen its crude oil output fall steadily from a peak of 3.4 million bpd two decades ago, sliding in recent months to fresh record lows at under 1.5 million bpd.

($1 = 19.6921 Mexican pesos at end-September)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tetra Tech Insider Sold Shares Worth $2,364,257, According to a Recent SEC Filing
Tetra Tech Insider Sold Shares Worth $2,364,257, According to a Recent SEC Filing
Jun 17, 2024
10:03 AM EDT, 06/17/2024 (MT Newswires) -- Leslie L Shoemaker, Executive Vice President, Chief Sustainability, on June 13, 2024, sold 11,161 shares in Tetra Tech (TTEK) for $2,364,257. Following the Form 4 filing with the SEC, Shoemaker has control over a total of 74,887 shares of the company, with 74,887 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/831641/000083164124000031/xslF345X03/wk-form4_1718404362.xml Price: 205.71, Change: -2.92,...
Mach Natural Resources Insider Sold Shares Worth $5,550,000, According to a Recent SEC Filing
Mach Natural Resources Insider Sold Shares Worth $5,550,000, According to a Recent SEC Filing
Jun 17, 2024
10:02 AM EDT, 06/17/2024 (MT Newswires) -- Kevin R. White, Chief Financial Officer of Mach Natural Resources GP LLC, on June 14, 2024, sold 300,000 shares in Mach Natural Resources ( MNR ) for $5,550,000. Following the Form 4 filing with the SEC, White has control over a total of 467,054 shares of the company, with 467,054 shares held directly....
Uber Technologies Insider Sold Shares Worth $1,978,665, According to a Recent SEC Filing
Uber Technologies Insider Sold Shares Worth $1,978,665, According to a Recent SEC Filing
Jun 17, 2024
10:05 AM EDT, 06/17/2024 (MT Newswires) -- Tony West, Chief Legal Officer and Corporate Secretary, on June 13, 2024, sold 28,000 shares in Uber Technologies ( UBER ) for $1,978,665. Following the Form 4 filing with the SEC, West has control over a total of 96,945 shares of the company, with 96,945 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1543151/000156218024005107/xslF345X03/primarydocument.xml Price: 70.41,...
Cisco Systems Insider Sold Shares Worth $629,767, According to a Recent SEC Filing
Cisco Systems Insider Sold Shares Worth $629,767, According to a Recent SEC Filing
Jun 17, 2024
10:04 AM EDT, 06/17/2024 (MT Newswires) -- Thimaya K. Subaiya, Executive Vice President, Operations, on June 14, 2024, sold 13,896 shares in Cisco Systems ( CSCO ) for $629,767. Following the Form 4 filing with the SEC, Subaiya has control over a total of 150,787 shares of the company, with 150,787 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/858877/000095017024073904/xslF345X03/ownership.xml Price: 45.18, Change:...
Copyright 2023-2026 - www.financetom.com All Rights Reserved