Pemex Evaluating Repsol Investment, May Take Earnings Charge

Petroleos Mexicanos, the state-owned oil producer, said it may take an earnings charge for its 9.4 percent stake in Repsol SA after Argentina expropriated YPF SA (YPFD) from the Spanish company in April.

“A sustained decline in the fair value of these Respol shares may indicate an impairment that would require the loss to be recorded in earnings,” Pemex said today in a U.S. regulatory filing.

To contact the reporter on this story: Carlos Manuel Rodriguez in Mexico City at carlosmr@bloomberg.net

To contact the editor responsible for this story: Robin Saponar at rsaponar@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.