*Mexico’s state oil company Pemex has announced it recorded a net profit of M$60bn (US$3.2bn) in the second quarter of the year, which it attributed to operational results, efficient use of resources, and a more favourable exchange rate. The Q2 financial results follow four consecutive quarters of net losses. Earnings before interest, taxes, depreciation and amortisation (Ebitda) were M$76bn for the quarter, while debt “remained stable” at US$98bn. In terms of production, Pemex produced 1.63m barrels per day (bpd) of liquid hydrocarbon, up from 1.61m bpd in Q1 2025. Natural gas production grew by 2.6% compared to the previous quarter, reaching 3.59bn cubic feet per day. Crude oil processing averaged 987,000 bpd, an increase of 5.4% with respect to the first quarter of 2025.
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