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Mexico's Pemex loses $5 billion in second quarter

Wednesday, July 29, 2015

Mexican state-run oil company Pemex said losses widened in the second quarter, marking its eleventh straight quarter in the red, on slumping prices and a nearly 10% drop in crude output.

Losses grew nearly 62% to $5.4 billion in the year-ago quarter, Pemex said in a statement on Tuesday.

Source: Reuters