March 3, 2025--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petroleos Mexicanos (Mexico City, Mexico), better known as Pemex, reported a net loss of 190.5 billion Mexican pesos (about US$9.3 billion) in fourth-quarter 2024, compared with net income of 5.1 billion Mexican pesos (about US$249 million) in corresponding quarter from 2023.

The negative financial results were the outcome of higher costs, changes in foreign exchange, and an increase in the impairment of fixed assets despite stronger sales and lower taxes and duties.