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Mexico's Pemex swings to second quarter $14 bln loss
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Mexico's Pemex swings to second quarter $14 bln loss
Jul 26, 2024 9:49 AM

MEXICO CITY, July 26 (Reuters) - Mexico's state-owned

oil company Pemex reported a 256 billion peso ($14 billion)

second-quarter net loss on Friday, according to a filing with

the Mexican stock exchange, after posting significant profits in

the year-ago period.

The quarterly loss compared to gains to more than $25.4

billion in the same period last year.

Revenues for the country's biggest company during the

April-to-June period this year totaled 409.5 billion pesos,

essentially flat with revenue from the second quarter of 2023.

The oil company reported crude oil and condensate liquids

production for the three-month period of 1.784 million barrels

per day (bpd).

During the quarter, its refineries processed 886,000

bpd, according to the filing.

Pemex, one of the world's most indebted oil companies,

said its total financial debt stood at $99.4 billion as the end

of June.

($1 = 18.2862 Mexican pesos at end-June)

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