Pemex Posts 4th-Quarter Loss on Higher Taxes and Lagging Output
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Petroleos Mexicanos, Latin America’s largest oil producer, posted a loss for the second consecutive quarter as higher taxes and stagnant output offset higher oil prices.
Pemex’s loss in the fourth quarter widened slightly to 23.8 billion pesos ($1.8 billion) from 23.6 billion pesos in the year-earlier period, the Mexico City-based company said yesterday in a filing to the Mexican stock exchange.