LNG

Petróleos Mexicanos (Pemex), the Mexican oil and gas company, is currently struggling to emerge from the economic slowdown amid widening losses and tumbling revenues at a time when several LNG export projects are moving forward in the country.

Mexican state oil and gas company Petroleos Mexicanos (Pemex) narrowed losses to the equivalent of $2 billion in the second quarter as US pipeline natural gas and LNG imports helped keep power sources at peak capacity. The losses were an improvement on the huge 562 billion pesos ($25Bln) loss registered in the previous quarter for foreign exchange reasons and the collapse of oil prices.