The company’s USD 3.59 billion in tax and duties obligation for the past quarter was 38% less than during the same period last year, resulting in a fiscal adjustment benefit of USD 1.21 billion.
Pemex narrowed its loss against a backdrop of lower sales – down 17% year-on-year to USD 13.5 billion – and lower output. Oil production fell by 2.2% to reach 2.18 million bopd while gas output was cut by 6.4% to 167 mcm (5.88 bcf).
The Mexican state oil company’s results were also hampered by the peso-dollar exchange rate, a lower refining output and the slump in oil prices, which at USD 36.69 per barrel on average during the second quarter were USD 16.23 per barrel lower compared with last year.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.