Pemex's oil exports also dipped to an average of 1.711 million barrels per day from 2.003 million bpd in the year-ago period as declining yields at Mexico's Cantarell field pulled oil output down to 3.158 million bpd from 3.345 million.
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Mexico's Pemex Profit Decreased
The loss compared with a year-ago net profit of 8.1 billion pesos
Mexican state oil monopoly Pemex posted a first-quarter net loss of 10.1 billion pesos on Wednesday, hurt by decreased export volumes, a lower export price for Mexican crude and higher costs.
The loss compared with a year-ago net profit of 8.1 billion pesos amid soaring oil prices that had lifted heavily taxed Pemex into profit in mid-2005 for the first time in years.
Mexico's crude oil export mix was priced at an average $47.34 per barrel over the first quarter, down from a revised $50.12 in the year-ago period, as sky-high world oil prices suffered a correction.
Pemex's oil exports also dipped to an average of 1.711 million barrels per day from 2.003 million bpd in the year-ago period as declining yields at Mexico's Cantarell field pulled oil output down to 3.158 million bpd from 3.345 million.
Pemex's oil exports also dipped to an average of 1.711 million barrels per day from 2.003 million bpd in the year-ago period as declining yields at Mexico's Cantarell field pulled oil output down to 3.158 million bpd from 3.345 million.
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