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A millionaire losses in the first half
CITY OF MEXICO (EFE) .- Petróleos Mexicanos attributed to the fall of the peso against the dollar, mainly, losses of $ 2,763 million recorded in the first half of the year 39, year, "The oil industry, especially Pemex, is affected positively and negatively by external factors such as oil prices and the exchange rate between the Mexican peso and the Mexican peso. explained at a conference the chief financial officer, David Ruelas.
He indicated that the drop in the exchange rate of the second quarter compared to the first quarter, in the order of 8%, had an impact on the final results, despite the fact that the price of a barrel of oil maintained its recovery trend.
The peso depreciated in the second quarter of the year to exceed 20 p US dollar, a minimum that has not arrived since the beginning of 2017, due to the strength of the note green and uncertainty generated by the negotiation of the North American Free Trade Agreement and the tariff war with the United States. 19659003] Positively, revenues amounted to $ 41,965 million, or 24.6% more than the same period in 2017. In total sales, export earnings increased by 43%. , 7% to reach 16,978 million.
Domestic sales increased 14.8% to $ 24.771 million.
Ruelas identified that the increase in sales benefited both from the explosion in the price of crude oil and, at the national level, from the liberalization of prices of oil. gasoline and diesel throughout 2017 in Mexico.
In this way, he assured, despite the operational challenges encountered and the negative impact in the second quarter on the exchange rate We have made efforts to strengthen and improve processes in the value chain.
Pemex's commitments, which include short-term and long-term debt, taxes and duties, as well as labor debts, amounted to $ 185.243 billion as at June 30. , Up 1.2% over end of 2017.
Despite the slight increase, Ruelas said that the company – involved in a plan of austerity since 2016 under the administration of the President Enrique Peña Nieto (2012-2018) – will work to achieve the medium-term financial equilibrium
For this purpose, and to achieve the objectives of 2018, help oil hedging programs, which guarantee the average price per barrel.
According to the report, oil production in the first six months of the year was 1.88 million barrels a day, 6.7% less than the first half of last year.
At this point, the deputy director of exploration and production portfolio management, Lui s Ramos, told investors that for the third quarter is expected to increase production to 1.9 million barrels per day.
For the fourth quarter would increase to 1.95 million and in 2019 a similar production is expected, of the order of 1.953 million barrels
This slight increase in production would continue with the reactivation of the wells [19659003] Similarly, natural gas production declined 9.3% to 4,823 million cubic feet per day (MMcfd).
The next president, Andrés Manuel López Obrador, promised to invest in the national oil sector with the rehabilitation of six refineries and the construction of a new one.
Precisely, shortly after the quarterly results of Pemex, the leader of the National Regeneration Movement (Morena), who will assume the presidency on December 1, announced a $ 1 million investment in the oil and gas industry. l & # 39; energy.
He will be going to Pemex from next year, he said, to increase production to 2.5 million barrels a day in two years.
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