Colombian Coal Output Soars; Pemex Reports $10B 2021 Losses

A roundup of Monday’s news from across Latin America

Bloomberg Línea
February 28, 2022 | 09:35 PM

Bloomberg Línea — Coal production at Cerrejón in Colombia, one of the largest open-cast coal mines in the world, increased by 89% in 2021, with total production for 2021 at 23.4 million tons.

Mexico’s state oil company Pemex recorded a loss of $10.9 billion during 2021, an eye-watering figure that was the result of higher tax payments and shared profit rights with the companies it has partnered with since Mexico’s 2013 energy reform allowed greater private sector participation in exploration and production. The losses were also deepened by higher costs in the sale of imported fuels.

On the stock markets, Mexico’s S&P BMV/IPC (MEXBOL) saw the highest gains, with a 1.61% climb, buoyed by the strong performance of shares of Grupo Financiero Banorte (GFNORTEO), Grupo Financiero Inbursa (GFINBUR) and Grupo México (GMEXICOB) shares performed the best during the day.

Chile’s main index Ipsa (IPSA) ended the day up 1.54% and was the second best performer in the region, while holidays in Brazil and Argentina meant that the Ibovespa (IBOV) and Merval (MERVAL) respectively were closed Monday.

Following is a roundup of Monday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.





El Salvador:




This is how the region’s markets closed on Monday, February 28: