Mexico’s Pemex swings to $3 bln net loss in third quarter

(Reuters) – Mexican state oil company Petroleos Mexicanos on Thursday reported a 2021 third-quarter net loss of 62.8 billion pesos ($3 billion), following higher tax payments and “significant foreign exchange losses”.

The loss marked a reversal from the same period last year, when Pemex (PEMX.UL) posted a net profit of 1.4 billion pesos, helped by currency gains and a lower tax bill.

Pemex also reported a total income of 732.1 billion pesos ($35.5 billion) during the third quarter. Meanwhile, the company’s financial debt stood at $113 billion.

In the second quarter, the oil company had reported a net profit of 14.4 billion pesos. read more

($1 = 20.6420 pesos at end-September)