UPDATE 3-Mexico's Pemex posts wider Q2 loss, sees lower crude output

viernes 25 de julio de 2014 17:04 GYT

(Recasts lead to include downwardly revised crude projection for 2014)

By David Alire Garcia

MEXICO CITY, July 25 (Reuters) - State-owned Mexican oil company Pemex reported a wider second-quarter loss on Friday and said average crude oil output this year will fall to its lowest level in more than two decades.

Losses for the quarter totaled 52.226 billion pesos ($4.02 billion), led by losses at the company's refining unit, compared with a loss of 49 billion pesos in the year-earlier period.

The company said the losses were caused by higher sales costs, a decline in asset values and a bigger tax bill.

Revenue rose 4.1 percent to 409 billion pesos, mainly because of higher domestic sales and exports, compared with revenue of 393 billion pesos in the second quarter last year.

Sales costs jumped 13.2 percent, or by 24.4 billion pesos, as a result of preexisting obligations and higher production costs, the company said.

Pemex also reported an 8.7 billion-peso decline in the value of its Burgos natural gas asset in northern Mexico.

"Inside and outside the company, the environment has grown more complex," Pemex's chief financial officer, Mario Beauregard, said in a call with analysts.   Continuación...