Mexico's Pemex posts Q3 loss of 61.25 billion pesos

According to a filing at the Mexican stock exchange, Pemex, Mexico's state-owned energy company, reported a net loss of 61.25 billion Pesos ($3.34 billion), for its third quarter.

The revenues of one of the largest companies in the country from July to September totaled 378,9 billion pesos.

Pemex has reported that, with its partners, it produced an average of 1,66 million barrels of crude oil per day (bpd), a 6.7% drop from the same period last year.

The company's Chief Executive Victor Rodriguez stated on Friday that the company is aiming to maintain crude production between 1.6-1.7 million bpd, despite a monthly drop of around 30,000 bpd because of depleted fields as well as a lack major discoveries.

Rodriguez said that Pemex intends to reduce exports while processing around 1.4 millions bdp in seven refineries.

In the third quarter of last year, the company processed on average 1,01 million bpd. This is 4.8% higher than the previous quarter.

(source: Reuters)