High prices, low profits for Mexico's oil company - 2 Feb 08

2012-04-25 4

Rising oil prices haven't translated into profits for every oil company across the globe.

Mexico's state owned Pemex is losing money. The company exports crude oil, but is forced to import 40 per cent of its petrol because they haven't built enough refineries to keep up with demand.

Low investment in infrastructure has also led some serious accidents.

Al Jazeera's Franc Contreras reports from Villahermosa, Mexico.

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