Profitability of Petróleos Mexicanos: determinants and discussions on the public budget
Journal Title: RAN - Revista Academia & Negocios - Year 2018, Vol 4, Issue 2
Abstract
Mexico’s oil market sharp fluctuations in the last decade have had a direct impact in the industry’s profitability. The current study revises the factors that influence the profitability behavior of Pemex. Likewise, a brief analysis on the effect that those factors have upon total tax receipts and their possible impact on public budget calculation is also carried out. A multiple linear regression econometric model with data from 2005 to 2016 is used. The results show that the price of a crude oil barrel, the total assets and net exports have an effect on the company’s profitability. The variables identified were found to have a lesser impact on budget revenues because not many of them were considered in the adoption of 2013’s energy reform.
Authors and Affiliations
Angeles Govea Franco, Ruben Macias Acosto, Miguel Oropeza Tagle
Keywords
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