A decrease in total sales, an increase in foreign exchange loss, a decrease in yield on derivative financial instruments and an increase in cost of sales contributed to this result.

Pemex has closed the second quarter of the year with losses amounting to 255,937 million Mexican pesos (US$ 13,995 million) compared to the net profit of 25,423 Mexican pesos (approximately US$ 1,378 million) in the same period of the previous year.

The main factors that contributed to this variation were the decrease in total sales, an increase in the exchange loss, a decrease in the return on derivative financial instruments and an increase in the cost of sales.

However, the result has been offset by a decrease in the impairment of fixed assets and a decrease in taxes and duties.

The company's revenues reached 409,528 million Mexican pesos (US$ 22,204 million), 1.1% less than in the second quarter of 2023, due to the drop in export sales and the appreciation of the peso against the dollar. .

However, turnover has been offset by a 12.5% increase in domestic sales, mainly due to higher prices for crude oil and petroleum products.

So far this year, Pemex's sales in the domestic market already represent 76% of the company's total income. Pemex has achieved a greater participation in the domestic market for petroleum products compared to the minimum levels it recorded in previous years.

For its part, the cost of sales, including impairment, stood at 364,381 million Mexican pesos (US$ 19,757 million), 10.9% more in year-on-year terms. This increase is due to higher operating expenses (mainly in taxes and duties) and higher amortization expenses.

Meanwhile, the gross operating result (Ebitda) stood at 55,800 million Mexican pesos (US$ 3,025 million), as highlighted this Friday by the company in its results presentation.

Finally, the total financial debt has decreased by 1.8% compared to the figure recorded at the end of 2023.