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LatinNews Daily - 29 July 2024
In brief: Mexico’s Pemex records quarterly loss
*Mexico’s state-run oil company Pemex has announced that it registered a net loss of M$255.9bn (US$13.9bn) in the second quarter of 2024, compared to net profit of M$25.4bn in the same period of 2023 and of M$4.7bn in the previous quarter. In a report, Pemex attributed the losses to the depreciation of the peso against the dollar, a drop in the number of sales and increased cost of sales. Crude and condensate liquids production stood at 1.78m barrels per day (bpd), down around 6% year-on-year, while Pemex refineries processed 886,000bpd, up over 7%.
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