Weekly Report - 8 June 2004

OIL | Pemex loses windfall earnings to states. The finance ministry has announced that it will be distributing among the states M$5bn (US$438m) as an advance on expected `excess' revenues from the oil industry. The permanent commission of congress, which handles legislative business during recesses, had recommended the shareout, calculating that the `excess' had reached M$3.4bn (US$298m) in the first quarter alone.

End of preview - This article contains approximately 296 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial