The state-owned company Petróleos Mexicanos (Pemex) closed the third quarter of 2026 with net losses of 10,795 million Mexican pesos (514.1 million euros), which represents a reduction of 82.4% compared with the 'red numbers' of 61,242 million pesos (2,916 million euros) recorded in the same period of the previous fiscal year.
According to the financial statements released this Friday, this progress is mainly due to the increase in sales and a lower charge for impairment of fixed assets. These positive factors were, however, partially offset by an increase in purchases of products, higher payments for taxes and duties, costs linked to derivative financial instruments, and a foreign-exchange loss derived from the depreciation of the peso against the dollar.
Pemex's revenue rose 28.5%, reaching 486,779 million pesos (23,181 million euros). In the domestic market, the oil company earned 331,971 million pesos (15,809 million euros), 36% more year-on-year, while exports increased in value by 14.9%, to 154,031 million pesos (154,031 million euros). In addition, other services generated 777 million pesos (37 million euros).
On the cost side, Pemex recorded total operating, administration, distribution, transport, and impairment expenses for wells, pipelines, properties, plants, and equipment of 389,188 million pesos (18,533 million euros), which represents a decrease of 0.7% compared with the previous year.
Operating profit before depreciation and amortization (Ebitda) amounted to 123,823 million pesos (5,897 million euros), after more than doubling, with an increase of 112.2% compared with the third quarter of the previous year. As of September 30, Pemex's financial debt stood at 77.6 billion dollars (69.479 billion euros), 8.9% less year-on-year.