While in the US the oil companies recorded historic profits, in Mexico, Pemex returned to negative numbers

1001

While in the United States Exxon Mobil and Chevron recorded historical profits, in Mexico, Pemex returned to negative numbers and lost 52.3 billion pesos in the third quarter of the year, equivalent to 2.5 billion dollars.

In the second quarter, Pemex reported profits of about 6.2 billion dollars.

Meanwhile, Exxon Mobil posted profits of $19.7 billion, its biggest profit in 152 years, and Chevron made $11.2 billion, its second-best result. Both benefited from high oil prices.

Pemex also had high revenues. In the third quarter, its sales reached 605 billion pesos, an increase of 56.5 percent compared to the same period last year.

However, being a net importer of fuels, the price paid for them to meet domestic demand also increased.

In addition, it was impacted by a higher tax payment and foreign exchange loss.

Mexico Daily Post