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Mexico's Pemex loses $3 billion in quarter

Monday, July 29, 2013

Mexican state oil monopoly Pemex posted a loss of $3.8 billion in the second quarter.

The figure widens its losses from the same period a year earlier on lower crude export prices and a stronger peso.

The announcement comes just weeks before the government is due to unveil a plan for a major overhaul of the oil industry aimed at attracting more private capital.

Source: Reuters