UPDATE 2-Mexico's Pemex posts wider 2nd-qtr loss on lower prices, output
(Adds CFO quote, details on oil prices, production and taxes)
By David Alire Garcia
MEXICO CITY, July 28 (Reuters) - Mexican state-run oil company Pemex said losses widened in the second quarter, marking its eleventh straight quarter in the red, on slumping prices and a nearly 10 percent drop in crude output.
Losses grew nearly 62 percent to 84.572 billion pesos ($5.388 billion) from 52.226 billion pesos in the year-ago quarter, Pemex said in a statement on Tuesday.
The company also cited a 44 percent drop in the average price of Mexican crude exports during the quarter, from $97.09 per barrel to $53.95 per barrel.
Revenue also fell, by nearly a quarter to 308.9 billion pesos from 409 billion pesos.
"The results of the company continue to (follow) the clear impact caused by the current environment, where the markets continue to be over-supplied and the U.S. dollar keeps getting stronger," Chief Financial Officer Mario Beauregard said on a call with analysts.
Crude oil production for the quarter stood at 2.225 million barrels per day (bpd), down from 2.468 million bpd in the year-earlier period.
Meanwhile, natural gas production fell 6.3 percent to 5.3 million cubic feet per day. Continuación...