Pemex Absorbs Losses in Third Quarter, Despite Strong Sales

November 10, 2022--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Pemex announced financial losses in its third-quarter report, though oil production and refining rates are higher than last year. Pemex's total sales increased by 56.5% when compared with the same period last year, with domestic and international sales increasing 69.3% and 44.5%, respectively. Pemex has shown positive results in the downstream sector, as it has been refining more. In the third quarter, the Mexican company, which has a domestic refining capacity of about 1.6 million BBL/d, processed 807,000 BBL/d. This is about 16% higher than in the same period last year.