Pemex Reports Net Income of US$ 900

Petroleos Mexicanos has reported a US$900 million increase in net income, reducing its financial debt by 9%.

Pemex saw an increase in hydrocarbon production, industrial processing, and revenue, accompanied by a reduction in its financial debt and progress on the company's strategic agenda.

Revenue from sales and services rose 30.3% year-over-year in the quarter, reaching US$25 million, driven by export sales of crude oil and domestic sales of diesel, gasoline, and jet fuel.

These figures show that Pemex reversed its previously reported operating loss of US$550 million, posting an operating profit of US$4,275 million.

Furthermore, the company has continued its efforts to strengthen its financial structure, and it has also highlighted that short-term debt now accounts for a smaller portion of total debt, which helps reduce financial pressure and enhances financial flexibility.

Its production platform stands out for its high level of industrial processing, ensuring a steady supply to both the domestic market and the highly volatile international market.

Pemex's total hydrocarbon production averaged a 4.6% increase, while liquid hydrocarbon production stood at 1,658 thousand barrels per day; meanwhile, crude oil processing at refineries increased by 2.9%, resulting in a 3.4% increase in total petroleum product production.