Pemex’s Tax Burden to be Cut by Mexico Government
The Mexican government proposed to slash state-owned oil major Pemex’s tax burden in the finance ministry’s 2022 draft budget presented to Congress on Wednesday. The proposal involves cutting the profit sharing rate (DUC), which is effectively a tax paid...
Mexico To Begin Refinancing Pemex Debt with IMF Reserves
Mexico started a refinancing process of state-owned oil company Petroleos Mexicanos’ (Pemex) debt as it received $12bn from the International Monetary Fund (IMF). The government is considering using the $12bn in IMF reserves either fully or partially to pay off...
Pemex Reports Quarterly Profits of $722.5mn
Mexico’s Petroleos Mexicanos (PEMEX) released its Q2 numbers where it reported a quarterly net profit of $722.5mn, which the company said was driven by higher income from international sales. This came after PEMEX reported a loss of $1.9bn in 2Q2020 and a loss...
