What Is Pemex Petroleos Mexicanos?
Pemex is an abbreviation of Petroleos Mexicanos, and is the leading oil company in Mexico. It belongs to the state, is the world’s second largest non-public company, and the second-largest annual revenue-learning entity in Latin America.
Pemex Petroleos Mexicanos and Economy
The taxes paid by Pemex are one third of the total taxes collected by the Mexican government.
Pemex Petroleos Mexicanos has a direct and significant impact on the Mexican economy. Pemex pays 60% of the profits to the state through taxes and royalties which form 40% of the federal budget.
Foreign Investment in Pemex
Petroleos Mexicanos Pemex is looking to find alliances with foreign oil companies to carry out exploration on Mexican soil. Pemex manages to attract foreign investors to invest in exploration on Mexican soil. Due to the high cost and risk associated with petroleum exploration, the strategy of partnering with other companies to carry out these projects is very effective.
Major oil companies such as Exxon, Petrobras, Royal Dutch Shell, British Petroleum, Lukoil, Statoil, Chevron and others have either partnered or are looking to partner with Pemex.
Pemex Deepwater Drilling and Exploration
Pemex is looking to be particularly associated with companies that have the resources and extensive experience in deepwater drilling and exploration. Pemex is a world leader in exploration in shallow waters and is not looking to carry out this type of oil exploration.
The leader in deepwater oil drilling and exploration is Petrobras, which has not yet confirmed their intention to invest in and partner with Petroleos Mexicanos Pemex due to corporate policy.
Pemex Petroleos Mexicanos is the largest company in Mexico, and it is crucial for the development of the country and its financial stability.