Mexico's Pemex Swings Back to Profit, Despite Lower Production

July 31, 2025--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petróleos Mexicanos (Pemex) (Mexico City, Mexico), Mexico's state-owned energy company, registered a net profit of 59.5 billion pesos (about US$3.1 billion) in the second quarter, compared with a net loss of 273.3 billion pesos during the same period last year. The results were attributed to the peso exchange rate, though Pemex produced 153,000 fewer barrels per day (BBL/d) year-over-year. The positive numbers were the result of a decrease in the costs of sales, a decrease in tax and duties, and the appreciation of the Mexican peso, which led to 134.7 billion-peso (about US$7.1 billion) in exchange gains.