Pemex’s Quarterly Loss Narrows on Higher Crude Prices

Petroleos Mexicanos, Latin America’s largest oil producer, said its fourth-quarter net loss narrowed amid higher crude prices and lower costs.

The net loss narrowed to 26.04 billion pesos ($2.15 billion), from 65.1 billion pesos a year earlier, Mexico City-based Pemex said yesterday in a statement to Mexico’s stock exchange. It is the state oil company’s third consecutive quarterly loss. Revenue rose 10 percent to 343.1 billion pesos.