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.
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