Mexico Sees Pemex Profits $7 to $9B/Yr from 2015 Under New Tax Scheme



Reuters

MEXICO CITY, Sept 13 (Reuters) - Mexico's state oil monopoly Pemex will obtain profits of between $7 billion and $9 billion a year from 2015 if a new tax structure the government has proposed for the oil major is approved as presented, Finance Minister Luis Videgaray said on Friday.

The government has proposed overhauling the energy sector to lure private investment into the oil and gas industry, and a separate tax revamp to gradually wean the federal budget off dependence on Pemex oil revenues. The reforms are part of wider package the government hopes will boost economic growth.

"We need an energy reform for Pemex to grow," Videgaray told local radio. "Pemex needs a better tax regime with or without (an energy) reform."



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