translated from Spanish: lost 35,700 million pesos in first quarter

Petroleos Mexicanos (Pemex) lost 35,700 million pesos in the first quarter of the year, the first under the Government of Manuel Andrés López Obrador.
The figure compares with gains of 113,300 million pesos in the fourth quarter of 2018.
PEMEX, one of the world’s most indebted companies, reported that the loss is mainly due to higher financial costs arising from the depreciation of the peso against the dollar.
The company reported that its sales fell 10.4 percent in the period to 356,251 billion pesos, affected mainly by the entry of new competitors, price increases and shortages that led to a Government strategy against theft the fuel.
Reads: During the shortage, Profeco received 91 complaints against gas stations
PEMEX also said that there was a decline in its sales abroad by a fall in the price of the Mexican export mixture.
Its crude oil production reached an average of 1.6 million barrels per day, a drop of almost 12% compared to the same period of 2018, added.
PEMEX requires to increase their investments to reverse a long decline in his production, which fell from 3.4 million barrels a day in 2004 than the average of 1.6 million at present, according to the report.
You can interest: Finance expected to allocate 100 thousand pesos to help Pemex with your debt
The company is in the sights of credit rating because it loads a heavy debt of $ 106,500 million. In January, Fitch downgraded its rating two rungs while s & P downgraded to negative its Outlook.
The previous Government, Enrique Peña Nieto (2012-2018), sought to reverse this decline with a reform in 2013 which opened the local energy sector to private investment, after more than 70 years of State monopoly, and promoting the bid of more than 100 oil fields.
But the Government of Lopez Obrador, who took office in December, believes the reform “a farce” and it has been proposed to bail out the company.
In mid-February, the Government said that Pemex you inject $ 5,500 billion to relieve their finances and strengthen its investment capacity.
In April, the Secretary of the Treasury, Carlos Urzúa, said that the Government will give aid to Pemex by 100,000 million pesos from a public fund of financial stabilization.
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Original source in Spanish