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Mexico City – The exchange rate is maintained at the finances of Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) in the first half of the year, El Universal reported .
According to the financial statements of state-owned companies sent yesterday to the Mexican Stock Exchange (BMV), the two companies added losses of 84 thousand 322 million pesos: 44 thousand 458 correspond to Pemex and 39 thousand 864 million to CFE. 19659002] The financial results obtained, according to David Ruelas Rodríguez, chief financial officer of Pemex, are attributed, in large part, to a foreign exchange loss. The peso depreciated 8% against the dollar when the exchange rate fell from 18.34 units per greenback on March 31 to 19.86 at the end of June.
In the report, Pemex Director Carlos Treviño commented that "the projects developed and approved by our Council are continuing, consolidating and confirming our place in the largest and most important group of oil companies. and gas from around the world. "
Ruelas Rodríguez said that the company "is pursuing efforts to optimize its operations and strengthen its results, so that the financial equilibrium is achieved in the medium term."
The official explained that the oil company has increased its total sales by 24.6% during the first six months
During this period, it has obtained resources for 833 570 million euros , contrary to the 668 000 935 million received during the same half of 2017, a recovery which rested to a good extent for the recovery of the prices of gasoline and diesel
In this sense, the company reported income from the sale of these two fuels in the order of 366 000 443 million pesos between 1 January and 30 June 300 thousand 350 million in the first half of 2017.
However, on the plan In operational terms, Pemex's results are down: Crude oil production dropped by 6.7%, as they stop producing 134,000 barrels a day in the first half. Meanwhile, gas extraction was reduced by 9.3%, from 5,000,316 million to 4,000,823 million cubic feet per day
This situation had an impact on the production of gas. Gasoline, which declined by 28.6% compared to the first six months of the previous year, rising from 941,000 barrels per day to 672,000 barrels. [19659002] Gasoline production decreased by 29.6% and diesel production by 31.3%. In fact, Mexico produces historical minimum levels of automotive fuels: 212,000 barrels and 129,000 barrels per day in the first half, which resulted in an increase in external gasoline purchases of 9.8%.
Crude oil has risen from one million to 70 thousand barrels to one million 219 thousand, representing a growth of 13.9%.
Prices down. Regarding the CFE, his report reports a loss of 39 thousand 864 million pesos during the semester.
The state-owned production company reported that several factors contributed to this result, for example, the average price of energy sales billed to customers decreased by 9%, from 1,669 pesos per kilowatt hour in the second quarter of 2017 to 1,518 pesos in the second quarter of 2018.
Therefore, at the end of the first half, revenue the sale of electrical service was reduced by 24 thousand 865 million pesos, an amount that partly explains the negative net result.
In addition, the company's operating costs increased by 16.7%, from 168 thousand 539 million to 196 thousand 823 million pesos, because the prices of fuels used to produce l 39; electricity has increased.
The CFE paid 137 thousand 137 million pesos to buy these fuels, which cost 11 thousand 643 million pesos more In the first half of last year
the foreign exchange loss, which alone accounted for 26,000,441 million pesos during the second quarter, also influenced the situation.
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