🛢️🇲🇽📉 Pemex Posts $2.1B Q1 Loss on Falling Output, FX Hit, and Debt Pressures 🔹 Summary: Mexico’s state-run oil giant Pemex reported a Q1 net loss of 43.3 billion pesos ($2.12B), citing falling production, declining sales, FX losses, and mounting debt—now over $101B. Crude and condensate output dropped 11.3% as mature field depletion and slow new well completions drag on President Sheinbaum’s 1.8M bpd production goal. 🔹 Key Points: • Q1 crude and condensate production fell to 1.62M bpd; refinery throughput dropped 5% YoY. • Revenue declined 2.5% to 395.6B pesos amid lower crude sales and foreign-exchange losses. • Pemex’s debt surged to $101.1B; $80B in government aid was used to pay liabilities. • Drilling activity declined: only 12 development and 5 exploratory wells completed in Q1. • Joint ventures with private firms are in the pipeline, with Pemex retaining at least a 40% stake. Tickers Of Interest: $USO $MXN $USD $XLE $OXY $CVX $PBR