Millionaire loss of PEMEX and CFE

Mexico City, Mexico.- In the last stretch of the current federal administration, state companies in the energy sector Pemex and the CFE, Dye your balance with red numbers.

If we add the amounts recorded during the first nine months of the year, Petróleos Mexicanos and the Comisión Federal de Electricidad reported loss joint equivalent to $ 237 million.

In the case of Pemex, the loss from January to September was $ 1,227 million and the CFE $ 2,10 million.

According to its report yesterday on the stock market, the negative performance of the two companies was due to higher financial costs and a lower return on the financial instruments of the oil company.

In the electricity company, they played against declining energy sales and rising prices of fuels used for their production.

On the other hand, it is only for the period July-September that the two companies obtained positive results, with profits of $ 1,424 million, in the case of Pemex, and $ 109 million for the CFE.

Yesterday the oil company acknowledged that it could not achieve its production target of one million 970,000 barrels a day by the end of the year.

"We estimate to maintain about one million 830,000 barrels a day, thanks to the fields that will start producing next year," said Ulises Hernández, director of resource associations, reserves and exploration and production, at a news conference. conference with investors. .

David Ruelas, Chief Financial Officer at Pemex, discussed Fitch's change of perspective from stable to negative and told investors that this was due to uncertainty about the company's future business strategy.

Regarding the case of the CFE, its next director, Manuel Bartlett, found that the situation of the company is worrying because of its high level of debt.

To address the problems of society, he said, an extensive facility maintenance program will be undertaken to generate more energy.

With information from Zedryk Raziel.

In this note: