4 May 2024
Pemex narrows losses but struggles to rein in debt
Publication date: 01 March 2017
Gas Strategies Group
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Mexican state oil company Pemex has narrowed full-year losses and thrown enormous resources at attacking its dizzying debt mountain amid an ongoing operational efficiency drive.
The state-run company reported a net loss of 296 billion pesos (USD 14 billion) for 2016, down by almost 60% from the 712 bn pesos of red ink the previous year.