⁍ Mexican national oil company Petroleos Mexicanos (Pemex) on Wednesday reported a third-quarter net profit of 1.4 billion pesos ($64 million)
The swing to profit marked a reversal from the same period last year, when Pemex posted a 87-billion-peso loss.

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⁍ The company’s tax bill fell to about 42 billion pesos, down 43% from a year earlier thanks to lower prices.

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– Mexico’s state-owned oil company made a net profit in the third quarter for the first time in four years, Reuters reports. Petroleos Mexicanos, or Pemex, posted a $64 million profit in the July-to-September period, thanks in part to a stronger peso and lower tax bills. The company posted a loss of $87 million in the same period last year due to slumping oil prices and the impact of the H1N1 virus. Revenue was down 41% to $2.4 billion.