Mexico’s Pemex reports fourth-quarter profit of over US$6 billion

RIO DE JANEIRO, BRAZIL – Mexico’s state oil company Petroleos Mexicanos (Pemex) reported on Friday, February 26th, a fourth-quarter 2020 net profit of 124.28 billion pesos (US$6.23 billion), helped by currency appreciation, lower imports and tax benefits.

It marked a second consecutive quarter of net profit.

“It’s a great achievement,” said Octavio Romero Oropeza, chief executive officer, in a call with investors.

Pemex also reported total income of 248.90 billion pesos for the fourth quarter, down 22% from the same quarter last year

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