Mexico's state oil company Pemex on Thursday reported losses of 346 billion pesos ($18.3 billion) for 2019, a 92 percent increase on last year's deficit. Pemex said the results were due to the burden of $105 billion in debt, a drop in crude sales and an increase in tax payments. "The most important variables that explain this situation are the fall in the price of the Mexican (crude) mix for export; lower reference prices for petrol and diesel; and the reduction in the volume of sales both nationally and for export," Pemex said in a statement.
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