03:01 GMT +318 March 2018
Listen Live
    The PEMEX logotype on the tower of the drilling tower of La Muralla IV exploration oil rig, operated by Mexican company Grupo R and working for Mexico's state-owned oil company PEMEX

    Mexico Oil Revenue Drops Almost 40% in 10 Months – Finance Ministry

    © AFP 2018/ OMAR TORRES
    Latin America
    Get short URL

    According to the Mexican Secretariat of Finance and Public Credit, Mexico oil revenues decreased 38% in the last 10 months compared to the same period in 2014.

    MEXICO CITY (Sputnik) Mexico oil revenues decreased 38% in the last 10 months compared to the same period in 2014, the Mexican Secretariat of Finance and Public Credit said in a statement.

    The country earned some $39 billion in oil and gas revenues in the same period, the ministry added on Monday.

    According to the statement, the sharp decline in state revenue is due primarily to a drop in international oil prices, an 8 percent decrease in oil production, and a 34 percent drop in gas prices.

    Mexican authorities carried out budget cuts of some $8 billion earlier this year amid a global oil price drop due to worldwide oversupply.


    Mexico to Tender 333 Oil Fields in 5 Years
    Mexico Expects Second Oil Field Tender to Have More Success Than First
    US Nets $23Mln From Gulf of Mexico Oil, Gas Lease Sale
    Oil, gas prices, Mexico
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment