Mexico's Pemex gets billions more in government support

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Mexican state energy company Pemex said on Friday it had received billions of dollars from the government to help strengthen its financial position and pay back mounting debt as well as pay for its new Olmeca-Dos Bocas Refinery.

Pemex has for decades struggled with a heavy tax burden and previous support - in the form of cash injections and tax cuts - has largely gone towards keeping the world's most indebted energy company alive.

"It is support never seen before," said Octavio Romero, chief executive officer, in a call with investors.last week approved

 

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