Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Fillon is 'prepared to go down with the ship'

Read more

THE DEBATE

"I will not yield" - Fillon defiant despite deepening 'fake jobs' probe (part 1)

Read more

THE DEBATE

"I will not yield" - Fillon defiant despite deepening 'fake jobs' probe (part 2)

Read more

ENCORE!

Film show: 'Trainspotting T2', 'Fences', 'This Is Our Land'

Read more

FOCUS

The return of Japan's imperialists

Read more

IN THE PAPERS

'Don't be fooled by 'Optimistic Trump''

Read more

MIDDLE EAST MATTERS

Sultan Sooud Al-Qassemi: putting arab art in the spotlight

Read more

THE DEBATE

Fillon, Le Pen cry 'witch hunt' over corruption probes (part 1)

Read more

BUSINESS DAILY

Trump's speech fails to impress markets

Read more

Americas

Mexican oil company posts $7 billion loss

Latest update : 2009-02-28

Losses exceeding seven billion dollars for 2008 were confirmed by the Mexican national oil company Pemex on Friday. A slowdown of oil production and a drop in the country's currency were the main reasons cited for the loss.

AFP - Mexican national oil company Pemex announced on Friday a loss of more than seven billion dollars in 2008, a sixfold increase over the previous year, a company spokesman said.
  
The loss was mainly attributed to the drop in the peso's value, the spokesman told AFP.
  
Pemex declared a loss of around one billion dollars in 2007.
  
Mexico's peso was trading Friday at a record low of 15.22 to a dollar, despite an injection of cash by the country's Central Bank (Banxico).
  
The value of the peso has been dropping steadily since late August despite Banxico's 18.5-billion-dollar injection of cash in the exchange market that began on October 8 to fight the peso's fall.

Date created : 2009-02-28

COMMENT(S)