May 13, 2019 / 7:25 PM / 10 days ago

Mexico's new oil refinery likely to far exceed budget - Moody's

MEXICO CITY, May 13 (Reuters) - The new refinery that the Mexican government has tasked state oil company Pemex to build will likely cost $2 billion to $4 billion more that what the government estimates due to its “limited know-how,” credit rating agency Moody’s said on Monday. (Reporting by Stefanie Eschenbacher)

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