By July 28, 2016 Read More →

Pemex Q2 losses narrow slightly

Pemex Q2

Pemex Q2 loss shrunk to 83.5 billion pesos from 84.6 billion pesos in the year-ago quarter. Pemex photo.

Pemex Q2 15th straight quarter in the red

MEXICO CITY, July 28 (Reuters) – Mexican national oil company Pemex said on Thursday its losses narrowed in the second quarter, marking its 15th straight quarter in the red.

The loss at Pemex shrunk more than 1 percent to 83.5 billion pesos ($4.6 billion) from 84.6 billion pesos in the year-ago quarter, helped by lower costs and taxes.

Revenue in the April-June period fell more than 17 percent to 255.7 billion pesos from 308.9 billion pesos a year earlier, the company said in a filing with the Mexican stock exchange.

(Reporting by Michael O’Boyle and Joanna Zuckerman Bernstein Editing by W Simon)

Posted in: Energy Financial

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