Pemex cuts net loss 82.4% to 10,795 million pesos and lifts revenue 28.5% in Q3

Petróleos Mexicanos (Pemex) reported on October 30, 2026 a net loss of 10,795 million pesos in the third quarter, 82.4% lower than the 61,242 million pesos recorded in the same period of 2025, and a 28.5% rise in revenue, to 486,779 million pesos, according to the financial statements filed with the Mexican Stock Exchange (BMV).

Revenue growth is explained by higher domestic fuel sales and by the export price of the Mexican Crude Basket, which averaged 85.38 dollars per barrel, 38.7% more, according to Forbes México. The company posted an operating profit of 97,591 million pesos, against an operating loss of 12,884 million a year earlier, and EBITDA of close to 124,000 million pesos in the quarter.

The negative figure persisted despite the larger volume of business. El Economista reports a foreign exchange loss of close to 16,400 million pesos, after a foreign exchange gain of 33,400 million a year earlier, while the peso moved from 17.47 to 17.84 per dollar between June and September. Higher costs of derivative financial instruments and taxes and duties, which rose 30%, also weighed on the result.

On the operating side, crude processing reached 1.14 million barrels per day, 13.8% more, with a contribution of 227,000 barrels per day from the Olmeca refinery. Petroleum product output reached 1.16 million barrels per day, 15.5% more, driven by gasoline, diesel and jet fuel. Liquid hydrocarbon production fell 0.4%, to 1.64 million barrels per day.

Financial debt stood at 77,600 million dollars, 8.9% less than at the close of 2025 and close to 8,000 million less than at the close of 2018. The balance with suppliers fell 103,000 million pesos compared with the third quarter of 2025. The oil company is the main supplier of crude to the U.S. Gulf Coast within bilateral energy trade.

The next checkpoint is the annual results and compliance with the 2027 production targets, which the company sets out in its quarterly reports to the BMV.

This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.