Mexican state oil firm Pemex has reported a net loss of 20.1 billion pesos ($1.6 billion) for this year’s second quarter, as a weak US dollar hurt peso-denominated earnings from exports. In the same period of 2009, Pemex earned net income of 1.16 billion pesos. Domestic sales during the most recent quarter stood at 193.7 billion pesos. That was 36.8% higher than in the same period last year, as both sales volumes and prices of gasoline, diesel, and fuel oil increased. However, Pemex’s cost of goods sold jumped by 29% to 149.7 billion pesos, mostly due to higher fuel imports.
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