MEXICO CITY: Mexico’s state-run energy giant Pemex reported losses of $14.3 billion for 2016 on Monday, halving its losses from the previous year and saying “austerity” measures were starting to pay off.
Pemex, which has not posted a profit since 2012, has struggled through a period of low oil prices and sweeping energy reforms launched by President Enrique Pena Nieto.
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