Pemex Reports Fourth-Quarter Loss Amid Rising Debt

Mexico’s state-owned oil company, Pemex, has announced a net loss for the fourth quarter, contributing to an annual deficit of 45.2 billion pesos. Bloomberg posted on X that the company’s debt has reached $85.2 billion. Despite a 1.3% decline in crude and condensate production, gas output increased by 7.4%. The financial challenges highlight ongoing issues for Pemex as it navigates fluctuating production levels and substantial debt.