Pemex reported its trade balance for the second quarter of this year and its metrics changed from red to green. The company has poor operational metrics, forcing it to increase imports to supply local demand. However, the company has reduced its deficit in recent months.
Pemex is getting further away from the 2,000mbd target every month, and the poor trend continues, without a possible solution in the short term. The company published extraction figures for June and the firm will find it even harder to achieve its targets.
Pemex announced its financial and operational results for the second quarter of the year, highlighting positive performance in key metrics such as investment, total sales and increased natural gas use, among others. However, the firm reported a huge net loss in this quarter.
Pemex continues to report a severe crisis in the refining sector, especially due to constant operational problems in its refineries. Andrés Manuel López Obrador (AMLO) has big plans for this industry, but the challenges will be difficult to overcome.