Markets - Energy - Americas

Pemex posts narrower 3rd-qtr loss despite falling prices, output MEXICO CITY: Mexico's state-run oil company Pemex reported a narrower 118.36 billion peso ($6.1 billion) third-quarter net loss on Friday, even as it continues to grapple with low prices and declining crude production.It marked Pemex's 16th consecutive quarter in the red, and compared with a loss of 167.5 billion pesos in the same period last year."Financially there is still much to be done. However, we have stable finances at the moment and have clear signs that we're on the right path," said Juan Carlos Newman, Pemex's chief financial officer, on a conference call with analysts. Oil prices for Mexico's crude oil export mix averaged $38.25 per barrel, down nearby 8 percent compared to the third quarter last year. Pemex said the Mexican peso depreciated by about 15 percent during the quarter, averaging 19.50 pesos per dollar compared to 17.01 pesos during the year-earlier period. Sales for the July-September period totaled ...