Pemex posts eighth straight quarterly loss as output falls

MEXICO CITY (Bloomberg) -- Petroleos Mexicanos posted its eighth consecutive quarterly loss as declining output from its Cantarell oilfield pushed production at the state-owned oil monopoly to its lowest level in 24 years. The Mexico City-based company’s net loss of 59.7 billion pesos ($4.4 billion) widened from a 39.2 billion-peso loss a year ago, the producer known as Pemex said in a statement Oct. 24. Sales for the quarter fell 0.7% to 406.5 billion pesos from a year earlier.

..»