Mexican government announces measures to boost Pemex finances
MEXICO CITY, April 13 (Reuters) - Mexico's government announced on Wednesday a series of measures to improve national oil company Pemex's ailing finances, giving it a 73.5 billion peso liquidity boost.
That includes a capital injection of 26.5 billion pesos and a credit facility for a further 47 billion pesos to pay down pension costs this year. The government said the company must reduce its liabilities by a total 73.5 billion pesos.
Mexico's oil output has slid for 11 consecutive years while prices have fallen about 70 percent since 2014. (Reporting by David Alire Garcia and Veronica Gomez)
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