Pemex Posts Loss as Tax Bill Rises, Crude Output Falls

摘要

Mexico's state-owned oil producer Pemex has reported its seventh consecutive quarterly loss, reflecting a heavier tax burden, unexpectedly large decline rates at key fields and strong competition from US crude in its traditional US Gulf Coast export market. On Friday the company said it lost 53 billion pesos ($4.1 billion) in this year's second quarter, up from losses of 49 billion pesos in the same period of 2013 and 35.9 billion pesos in the first three months of this year (OD May1'14).