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Mexico's Pemex posts wider third-quarter loss of $8.2 bln
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Mexico's Pemex posts wider third-quarter loss of $8.2 bln
Nov 3, 2024 2:03 PM

MEXICO CITY, Oct 29 (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)

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