Pemex Reports its Profits as of the First Quarter of 2018

Petróleos Mexicanos reported a positive net yield of 113 billion pesos during the first quarter of 2018, 29 percent higher than the first quarter of the previous year. 

Upon releasing the financial and operating results for the January- March period, the company reported that the operating, management, distribution and sales expenses remained stable, following the austerity and discipline policy on expenditure the State-owned productive company has put in place. As a result, the operating yield rose to 107 billion pesos, which represents a growth of nearly 48 percent as compared to the same quarter of 2017.

Regarding operations, the company reported that the major maintenance programs on the refineries in Madero, in the state of Tamaulipas, and Minatitlán, in the state of Veracruz have concluded. Likewise, the partnership for hydrogen supply for the Francisco I. Madero refinery in Ciudad Madero with the world-leading company Linde, was established, which will allow the company to increase its domestic production of oil-based products, reduce unscheduled shut-downs, create savings and achieve increased profitability.

On the other hand, the company pointed out that during the first quarter, Pemex won four deep-water blocks in round 2.4 and seven blocks in shallow waters in round 3.1.

Thus, Petróleos Mexicanos makes progress in the implementation of its Business Plan for 2017- 2021 and further consolidates its finances and continues to improve its competitiveness, and also focuses on more productive, strategic activities.

Las menciones de Pemex pueden referirse a Petróleos Mexicanos o a cualquiera de sus Empresas Productivas Subsidiarias.