InfoAnda - Mexico's Pemex declares 7 bln dollar loss

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Mexico's Pemex declares 7 bln dollar loss AFP - 1 hour 44 minutes ago MEXICO CITY (AFP) - - Mexican national oil company Pemex has announced a loss of more than seven billion dollars in 2008, a sixfold increase over the previous year, a company spokesman said. ADVERTISEMENT The loss was mainly attributed to the drop in the peso's value, the spokesman told AFP Friday. 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. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo A Pemex oil installation off the Mexican coast. The national oil company has announced a loss of more than seven billion dollars in 2008, a sixfold increase over the previous year, a company spokesman has said. Most Popular – Top Stories Viewed RBS posts record British loss, offloads toxic assets Obama drives reform with 3.55-trillion-dollar budget Supermodel Bundchen ties knot with football star Brady Citigroup, US Treasury reach deal on government stake Japan faces deepening recession View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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