LatinNews Daily - 03 August 2026

*Mexico’s state-run oil company Pemex has released its financial results for the second quarter of 2026, showing that quarterly net profit stood at M$18.0bn (US$1.0bn), down 69.7% year-on-year on net profit of M$59.5bn in Q2 2025. Pemex stated that this result is primarily attributable to higher sales, a decrease in impairment of fixed assets, and lower transportation, distribution, and selling expenses, as well as lower administrative expenses, effects that were partially offset by higher purchases of products, higher taxes and duties, higher costs related to derivative financial instruments, and lower foreign exchange gains. Revenue during Q2 2026 totalled M$510.4bn, up 30.3% year-on-year and the highest figure in the past 14 quarters, while earnings before interest, ​taxes, depreciation and amortisation (Ebitda) were M$144.2bn, up 89.9% year-on-year. Pemex stated that, as of 30 June, its debt stood at US$77.5bn, down 9.1% compared to the end of 2025. Total hydrocarbon production in the second quarter averaged 2.45m barrels of crude oil equivalent per day, representing a 4.6% increase compared to the same period last year. Liquid hydrocarbon production stood at 1.66m barrels per day, supported by strategic fields such as Ixachi, Bakté, Itta, Koban, and Maloob.

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