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  HOME | Main headline

Pemex Posts Net Income of $390 Million in 2012
Pemex said in a report that last year’s result was primarily attributable to revenue from sales and services, which reached a record high of 1.64 trillion pesos ($128.7 billion), up 5.4 percent from 2011

MEXICO CITY – Mexican state-owned oil monopoly Petroleos Mexicanos said it posted net income of nearly 5 billion pesos (some $390 million) in 2012, a year after registering a net loss of $6.54 billion.

Pemex said in a report that last year’s result was primarily attributable to revenue from sales and services, which reached a record high of 1.64 trillion pesos ($128.7 billion), up 5.4 percent from 2011.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, rose 5.7 percent in 2012.

The Mexican oil company said in a statement that it had current assets totaling 334 billion pesos ($26.1 billion) and total equity of 2.4 billion pesos ($187 million) as of Dec. 31, 2012.

As of Dec. 31, 2011, Pemex had negative equity of 193.9 billion pesos ($13.9 billion at the exchange rate then prevailing).

Current liabilities fell to roughly 235.8 billion pesos ($18.4 billion), down 7 percent from the previous year.

Pemex said in the report that its total liabilities amounted to 2.02 trillion pesos ($155.3 billion) as of Dec. 31, 2012, up 8.8 percent from 2011.

Pemex, which accounts for a third of Mexico’s national budget, is the world’s fifth-largest oil company by output and 13th largest in terms of reserves. EFE


 

 

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