Weekly Report - 28 October 2010 (WR-10-43)

MEXICO | Pemex. The PRI's proposed changes to the Pemex fiscal regime are economically and politically relevant. Historically, the state company has been Mexico's main source of revenue; providing up to 35% of its fiscal revenues. However, over the last five years Pemex's oil production has fallen, causing some alarm and prompting a number of analysts to question the effectiveness of the company's management. Critics claim that the country's oil riches are being depleted, as the money the government receives from Pemex is being not spent properly (see sidebar).

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