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Pemex Beating Oil Giants In Bond Market

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July 9, 2014

Petróleos Mexicanos is beating global oil producers from Exxon Mobil Corp. (NYSE: XOM) to Chevron Corp. (NYSE: CVX) in the bond market as lawmakers move closer to approving rules to lower the company’s taxes, Bloomberg reported July 9.

Dollar-denominated debt from Pemex, as the state-owned company is known, has returned 8.3% this year, data compiled by Bloomberg show. That compares with an average 6% gain for 372 securities from integrated oil companies globally, a 1.3% return on debt issued by Exxon, the world’s biggest energy company by market value, and ...

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