Pemex posts USD3 billion loss in Q3

(MENAFN) Mexican state-owned oil company, Pemex, said that it registered a substantial net loss in the July-September period, The Peninsula Qatar reported. Net loss for the company in the third quarter was at USD3 billion, versus a USD1.87 billion profit in the same period a year earlier. The oil firm"s sales increased 0.1 percent in the third quarter from last year"s period, making USD31.46 million in sales, while its net debt hit USD62.1 million, recording a 2.7 percent jump. The company cited the loss to decreasing fuel prices and a negative foreign exchange coupled with the push for energy reform.