UPDATE 3-Mexico's Pemex loses nearly $10 bln in 3rd-qtr, 12th loss in row

miércoles 28 de octubre de 2015 14:31 GYT
 

(Adds details on upcoming joint ventures, taxes)

MEXICO CITY Oct 28 (Reuters) - Mexico's state-run oil company Pemex reported a steep third-quarter loss on Wednesday of 167.5 billion pesos ($9.9 billion), well over double the 60 billion pesos loss in the same period last year, hurt by low oil prices and a weaker Mexican peso.

It was Pemex's 12th consecutive quarter in the red.

Pemex said crude output for the quarter was down 5.5 percent, and natural gas production dropped nearly 1.7 percent.

Crude exports jumped 10 percent from a year earlier to total 1.206 million barrels per day (bpd), but the crash in crude prices offset the higher export volume.

The average price of Mexico's mix of crude exports for the quarter was $41.75 per barrel, down nearly 54 percent from the same quarter last year.

Total sales for the July-September period were 313 billion pesos, with earnings before earnings before interest, tax, depreciation, and amortization (EBITDA) 119 billion pesos, Pemex said in a statement.

Pemex said it had reached a deal with its union to reduce the company's massive pension liability, much of which the government will absorb.

The company did not detail how it will reform pension benefits for current and future employees, a condition set by a major energy reform finalized last year. It said specifics would be announced in the next few days.   Continuación...