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Oil is still profitable business, says Pemex chief

Tuesday, January 19, 2016

The chief executive of Mexican state-owned oil company Pemex said that crude drilling in the country remained a "profitable activity" and that output levels would remain stable despite the drop in global oil prices.

Nevertheless, Pemex expects "a difficult year" because of the policies of OPEC, said Emilio Lozoya, who is accompanying Mexican President Enrique Peña Nieto on a tour of the Arabian Peninsula.

Source: Efe