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Mexico Rules Out Profit-Sharing Tax Reduction for Pemex in 2024

  • Finance Ministry had little to add to AMLO’s remarks on Pemex
  • Government has many financial tools to help Pemex: Yorio

Mexico plans to maintain Petroleos Mexicanos’ profit-sharing tax rate next year, even as the Finance Ministry seeks to use a variety of tools to help the beleaguered state driller strengthen its finances and pay down $105 billion in debt.

“There’s no single way to support Pemex, we usually use a mix of financial and fiscal tools,” Deputy Finance Minister Gabriel Yorio said during a press conference Monday. He reiterated the government’s support of the oil company. “That’s all the information I can give you at this time.”