February 15, 2019 / 1:14 PM / 8 months ago

Mexico to pump $3.6 bln into ailing oil firm Pemex in relief plan

MEXICO CITY, Feb 15 (Reuters) - Mexico’s government will inject $3.6 billion into ailing state-owned oil company Pemex, including by reducing taxes paid, company officials said on Friday, a move aimed at improving the firm’s balance sheet and preventing a further downgrade to its credit rating.

Formally known as Petroleos Mexicanos, the firm holds roughly $106 billion in financial debt, the highest of any national oil company in Latin America. (Reporting by Ana Isabel Martinez, Writing by Daina Beth Solomon Editing by Nick Zieminski)

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