Mexico’s state oil and gas giant, Pemex, posted a massive loss for the third quarter despite record commodity prices.
After two straight quarters of profits, Pemex posted a loss of $2.6 billion.
The company said that they’ve been producing more hydrocarbons, including natural gas.
Pemex recently purchased its Deer Park refinery. They say that the refinery continues to improve the company’s efficiencies.
Source: Natural Gas Intelligence, “Mexico’s Pemex Posts Loss Despite High Pricing Environment, Steady Output,” by Christopher Lenton, November 1, 2022