Petroleos Mexicanos (Pemex) returned to red numbers when answering losses for 52 thousand 33 million pesos during the third quarter of the year, according to the report that the oil company sent to the Mexican Stock Exchange (BMV).
This loss is mainly explained by that increase in sales costsas well as the increase in impairment and exchange rate loss caused by depreciation of the peso in relation to the dollar during the quarter.
However, losses for the third quarter of 2022 were 32.6 percent lower than those recorded during the same quarter of the previous year, a period in which Pemex lost 77,244 million pesos.
Pemex emerged from the registration of profits for 131 thousand 377 million pesos during the second quarter of the year, mainly resulting from the ‘boom’ represented by the price of ‘black gold’ on international markets.
Thanks to the good results recorded during the first half of the year, the accumulated figures are still positive, because between January and September of this year, a profit of 195 thousand 615 million pesos was realizeda figure that contrasts with losses of 100 thousand 237 million pesos recorded in the same period of the previous year.
On the other hand, Pemex reported that during the third quarter they tried to make a Responsible use of debt.
“We seek to optimize sources of financing with structures that allow us to limit direct activities in the markets, while guaranteeing timely access to resources under competitive conditions, to meet the financial requirements of the company,” said the oil company under management. Octavio Romero Oropeza.
As a result, from September 30, 2022 nominal debt balance of Pemex It decreased by 3.9 billion dollars compared to the one recorded at the end of 2021.
As for other financial indicators, this was shown in the report sent to the Stock Exchange Pemex’s total sales rose 56.5 percent at an annual ratedue to an increase in domestic sales of 69.3 percent and export sales of 44.5 percent.
However, cost of sales rose 84.1 percent at an annual rate, stemming from a 204.9 billion pesos increase in purchases of products for resale.