EconomyFinancialPemex comes out of losses due to high oil...

Pemex comes out of losses due to high oil prices and Deer Park

The state-owned Pemex came out of losses during the first quarter of the year. The high international prices of crude oil led the company to report a net return of 122,494 million pesos, according to the report published this morning.

In its conference call , the company's management also attributed the result to the accession of the Deer Park refinery , whose purchase process was completed on January 20.

The company usually has negative results. During the first quarter of last year, it reported a net loss of 37,358 million pesos.

In a call with analysts, the company's management has also said that the good result for the quarter is due to an increase in the sale of gasoline , diesel and jet fuel as a result of the recovery in economic activity after the height of the coronavirus pandemic. Covid-19.

The state company reported a significant increase in revenue. From January to March it added sales of 506,794 million pesos, a growth of 60% compared to the same quarter a year earlier.

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