The company Petróleos Mexicanos (Pemex) reported this monday a net profit of 23 thousand 049 million pesos in all of 2022, a positive result that breaks nine consecutive years of losses.
In presenting his financial report, the general director of the Mexican state oil company, Octavio Romero Oropezaaffirmed that the firm benefited from “a favorable price environment” and the fruits of the energy policy of the Government of Andres Manuel Lopez Obrador.
The company pointed out that the total income from sales and services rose to almost 2.39 trillion pesos, 59.6% more than in 2021.
Within this item, increases in exports stand out, which grew 47.5% to 1,074 million pesos.
While sales in Mexico rose 56.8% to 1,195 million pesos.
The Pemex director boasted of the 1.6% annual increase in Pemex’s total crude production, which reached a total of 1,764 million barrels per day (Mdb), compared to 1,736 million in 2021.
In addition, total crude oil processing increased 14.6% to 816 thousand barrels per day.
The production of gas natural of Pemex at 3,866 million cubic feet per day (MMcfd).
After deducting the cost of sales, the yield or gross profit stood at 591 thousand 181 million pesos, an increase of 38.2% at the annual rate.
Meanwhile, operating income increased 91.6%, standing at 438 thousand 612 million pesos.
The oil company specified that the yield before taxes and rights, known as ebitda, rose by 91.6% to 438 thousand 612 million pesos.
Likewise, the Mexican oil company affirmed that its total net financial debt decreased 7% compared to the end of 2021 to stand at 107 thousand 728 million dollars.
“We are proud to say that we are reporting good results, production, higher revenues and lower debt than the previous year. All this derived from a favorable environment and having made the right decisions,” he defended. Octavio Romero Oropeza on the call with investors.
Fourth quarter of 2022 for Pemex
Despite the annual gains, the fourth quarter of 2022 showed a loss of 172 thousand 567 million pesos, which is compared to the also negative figure of 194 thousand 538 million pesos for the same period of 2021.
This loss occurred despite a year-on-year increase of 16.4% in total sales, reaching 519,256 million pesos (26,746 million dollars).
This is the first year of the López Obrador Administration, who has promised to “rescue” the state company, which has reported profits.
Pemex benefited from a year of widespread profits for the global oil industry, with an annual average price of 89.35 dollars per barrel of Petroleum Mexican, according to the report of the oil company.
In 2021, the state company recorded losses of 10.9 billion dollars after losing 24.735 billion dollars in 2020, in what it considered the “worst crisis in its history” due to the COVID-19 pandemic.
But in the first year of the López Obrador government, in 2019, Pemex had already practically doubled its losses, reporting 15,497 million dollars.
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