April 30, 2020 / 3:18 PM / a month ago

Mexico's Pemex posts massive $23.6 billion first quarter loss

FILE PHOTO: The Pemex logo is seen at its headquarters in Mexico City, Mexico April 20, 2020. REUTERS/Edgard Garrido - RC2P8G9EXC9Y/File Photo

MEXICO CITY (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) on Thursday said it had posted a $23.6 billion (18.81 billion pounds) loss in the first quarter as oil prices and demand crashed during the coronavirus pandemic.

Reporting by David Alire Garcia and Ana Isabel Martinez

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