Mexico’s state oil company Pemex posted another quarter of major losses on Friday, weighed down by falling output and lower crude prices, as the heavily indebted firm faces the prospect of a fresh downgrade from credit agencies critical of its direction.
President Andres Manuel Lopez Obrador has pledged to rescue the ailing Mexican oil giant by growing the firm’s government-supplied budget, lowering its tax bill and rooting out corruption, but the latest numbers remained mostly gloomy.
Brazil Energy Insight 
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