Pemex Reports $1.5 Billion in Net Income, Higher Production in Second-Quarter 2023

Pemex Reports $1.5 Billion in Net Income, Higher Production in Second-Quarter 2023

Pemex Reports $1.5 Billion in Net Income, Higher Production in Second-Quarter 2023

August 1, 2023--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petroleos Mexicanos (Mexico City), better known as Pemex, closed the second quarter with positive net income, higher oil output, and refinery runs.

Pemex reported a net income of 25.4 billion Mexican Pesos ($1.5 billion) in the second quarter, about 80% below the 125.2 billion Mexican Pesos ($7.4 billion) registered during the same time last year. Nevertheless, it is critical to highlight that a positive net income for the company is key, especially considering the losses registered in recent times.

On the upstream front, however, oil production stood at 1.882 million barrels of oil per day (BBL/d), about 7% more than in the second quarter last year.

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