Pemex net profit plunges 70% in Q2 despite debt reduction

Pemex's net profit fell 69.7% annually to 18.02 billion pesos in Q2 2026 due to higher financial costs, taxes, and a stronger peso. Despite the decline, the company reported increased hydrocarbon production, higher refining output, and a 9.1% reduction in debt to $77.5 billion, calling the results 'favorable.'