LatinNews Daily - 28 October 2025

*Mexico’s state-run oil company Petróleos Mexicanos (Pemex) has reported a net loss of M$61.2bn (US$3.32bn) in the third quarter of 2025, despite the economic support that President Claudia Sheinbaum’s government has provided to the indebted company. The loss was lower than that registered in the third quarter of 2024 (M$161.5bn) but down from a net profit of almost M$60bn in the previous quarter. Liquid hydrocarbon production stood at 1.66m barrels per day (bpd) in the third quarter, down 120,000 bpd from Q3 2024, while crude production was 1.65m bpd, down 116,000 bpd year-on-year, and crude processing stood at 1.01m bpd, up 4.8% year-on-year. As of the end of September, Pemex’s debt stood at US$100.3bn, up from US$98bn at the end of the second quarter.

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