Pemex Reports Negative Results, Weaker Operations in First Quarter

May 2, 2025--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petróleos Mexicanos (Pemex) (Mexico City, Mexico) reported a net loss of 43.3 billion Mexican pesos (about US$2.2 billion) for the first quarter of 2025, compared with net income of 4.7 billion Mexican pesos (about US$239 million) in the same period last year. The state-owned company cited factors such as lower sales, higher expenses, increased financial costs and a higher foreign exchange loss. Along with negative financial results, Pemex registered a drop in its liquid hydrocarbon production from 1.83 million barrels of oil per day (BBL/d) last year to 1.61 million BBL/d between January and March, representing an 11.4% drop.