(Recasts with 2019 year-end results)
MEXICO CITY, Feb 27 (Reuters) – Mexico’s national oil company Pemex posted a $18.3 billion loss (345.5 billion pesos) for 2019 on Thursday, nearly double the loss of the previous year, as the company struggles to reverse a 15-year streak of declining crude output.
The state-owned company racked up a $9 billion loss in the fourth quarter, up by more than a third compared to the year-earlier period, according to a statement filed with the Mexican stock exchange.
The heavily-indebted company said revenue during the October-December period totaled 320 billion pesos.
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