Mexico's Pemex losses narrow slightly in second quarter

Mexican national oil company Pemex said on Thursday its losses narrowed in the second quarter, marking its 15th straight quarter in the red.

The loss at Pemex shrunk more than 1 percent to 83.5 billion pesos (US$4.6 billion) from 84.6 billion pesos in the year-ago quarter, helped by lower costs and taxes.

Revenue in the April-June period fell more than 17 percent to 255.7 billion pesos from 308.9 billion pesos a year earlier, the company said in a filing with the Mexican stock exchange.