Pemex pays 5 times more taxes than América Móvil, Femsa and Walmart combined

Mexico City – State-owned Petróleos Mexicanos, known as Pemex, pays 5.5 times more tax than corporate giants América Móvil, Femsa and Walmart de México combined so far in 2022.

Pemex has sales of MXN $ 1.16 trillion and that of Mexico’s top three companies amounts to MXN $ 1.12 trillion, according to quarterly financial information reported on the Mexican Stock Exchange for the first half of 2022, compiled by Pemex in a presentation.

Although the income of América Móvil, Femsa and Walmart rivals that of Pemex, the Mexican oil company hands over 17.6% of the total to the treasury, while private companies pay only 3.2% of their income in taxes.

Even if the companies Alfa, Grupo Bimbo and Cemex are added, Pemex’s tax payment is still 4.1 times higher.

“When we see how much the three tax commissions pay and compare it with Pemex, we can see the importance that Petróleos Mexicanos has for this country,” said Octavio Romero Oropeza, CEO of the Mexican oil company during his appearance in the Chamber of Deputies on 24 October 2022.

The government of President Andrés Manuel López Obrador, known as AMLO, tightened tax collection and managed to negotiate with Walmart, Femsa, also with entrepreneur Ricardo Salinas Pliego’s Elektra, after a legal fight over payment of a credit d ‘tax.

The manager pointed out that Pemex is one of the most profitable oil companies in the world for operating cash flow (EBITDA) of total sales with a percentage of 40%, surpassed only by Brazilian Petrobras and Norwegian Equinor with 60 and 56 respectively. %.

The giants Total Energies, BP, Eni, Chevron, Shell Exxon and Repsol, fluctuate between 32 and 20%.

“All the others are well below the percentage of Petróleos Mexicanos,” added Romero Oropeza.

Pemex is the most indebted oil company in the world with over $ 105.3 billion in financial liabilities and production of 1.7 million barrels per day.