Petroleos Mexicanos’s financial woes continue to mount as the country’s biggest company reported a 168.9 billion pesos ($9.3 billion) loss in the fourth quarter and laid out plans for deep spending cuts this year, including delays of new offshore developments. Pemex lost about $32 billion in all of 2015, based on the exchange rate in each quarter, as oil prices plunged and the company’s crude output fell for an 11th straight year, according to a financial report released Monday. Pemex hasn’t recorded a profit since 2012. The company had more than $87 billion in debt at the conclusion of the third quarter and owes an estimated $7 billion to service providers. Earlier Monday, Pemex pledged to meet the government’s request that it trim its 2016 budget by 100 billion pesos. As much as $3.6 billion of the cuts will come from deferred projects, including expensive offshore wells, Jose Antonio […]