Energy

EXCLUSIVE Mexico's government readies roughly $5 bln lifeline for Pemex - source

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A logo of the Mexican state oil firm Pemex is pictured at Cadereyta refinery, in Cadereyta, on the outskirts of Monterrey, Mexico August 27, 2020. REUTERS/Daniel Becerril

MEXICO CITY, Feb 18 (Reuters) - The Mexican government will inject up to $1.6 billion into state oil company Petroleos Mexicanos (Pemex) this year and offer a tax break of 75 billion Mexican pesos ($3.68 billion), a senior official with direct knowledge of the matter told Reuters on Thursday.

The world's most indebted oil company, Pemex had more than $110 billion in financial debt at the end of the third quarter last year while its liabilities far exceeded its assets.

Reporting by Ana Isabel Martinez; Writing by Stefanie Eschenbacher; Editing by Chizu Nomiyama

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