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Mexico May Reduce Pemex’s Profit-Sharing Taxes Again

  • President Andres Manuel Lopez Obrador speaks on Monday morning
  • Mexico already reduced Pemex’s 2022 profit-sharing duty to 40%

Mexico could slash Petroleos Mexicanos’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines.

“With Pemex, for example, we are constantly or periodically lowering taxes so they have more funds,” said President Andres Manuel Lopez Obrador during his daily press conference on Monday. “And we can lower them more.”