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MercoPress, en Español

Montevideo, April 19th 2024 - 04:32 UTC

Tag: Ciudad Madero

  • Wednesday, February 28th 2018 - 09:20 UTC

    Pemex loss of US$ 18bn in fourth quarter; blames weaker Peso and declining oil fields

    Pemex lost 151 billion pesos during the fourth quarter due to a weaker peso, the company said, which depreciated 8% against the U.S. dollar.

    Mexican state-owned oil company Pemex reported a nearly US$18 billion fourth-quarter loss on Monday after both crude output and processing slid, though the company said refining levels should rebound as major maintenance plans are completed. The company posted a 352.3bn (US$17.9bn) peso loss for the last quarter of 2017, blaming a weaker peso exchange rate and higher financing costs for its performance, according to a filing with the Mexican stock exchange.