Overview
Analysis
US71654QCC4 analysis
Key facts
Petróleos Mexicanos (trademarked and better known as Pemex) is a Mexican state-owned petroleum company, created in 1938 by nationalized petroleum and the expunging of all private foreign and domestic companies at that time. Pemex is the biggest enterprise in Mexico, the largest taxpayer in the country and one of the largest companies in Latin America. Of the few oil companies in the world that develop all the productive chain of the industry, from exploration to distribution and commercialization of end products, including petrochemicals. During 2012, Pemex had an operating income of 905 billion pesos and investment amounted to 311 billion pesos. The crude oil production has remained stable in recent years, and additional discoveries were conducted that helped corroborate the petroleum potential deepwater basins. With the completion of the well-1DL Kunah Kunah more field information was obtained, confirming the gas potential in the deepwater Gulf of Mexico project B. The business plan of Pemex and its subsidiaries want, over the course 2013-2017, to meet the mandate of creating value and achieving operational and financial sustainability in the medium and long term. From a careful examination of the current situation and the situation analysis, we have decided to focus on the following objectives: growth, operational efficiency, corporate responsibility and management modernization.
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