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Mexican Oil Company Losses For The Fifth Consecutive Year In 2017
Feb 28, 2018

     Mexico’s “Financier” reported on February 27 that in 2017, Pemex’s net loss amounted to 533 billion pesos, a year-on-year increase of 74%, which was the fifth consecutive loss for the company. In 2017, the international crude oil price increased slightly, and the average selling price increased from US$36 to US$46 per barrel. Affected by this positive effect, the oil production revenue of the Mexican Oil Company increased by 30% year-on-year to 1.4 trillion pesos, but at the same time the corporate tax revenue soared. %, which is 387.8 billion pesos, and corporate debt is worth 72.4 billion pesos.