A bill recently introduced by the government contains more detail of the new tax regime in respect of oil companies. This aims to encourage further exploration with the aim of increasing oil production in the future. The state oil and gas company PEMEX which is important for Mexico’s revenue has seen falling production recently despite the existence of deep-water oil and gas reserves. PEMEX has been unable to fully exploit the opportunities owing to inadequate technology and funding. In future PEMEC will be allowed to be fully competitive and develop new areas of production in combination with private enterprises. According to the new Bill the tax burden on PEMEX is to be reduced over the next ten years from 79 percent of its income to a maximum of 65 percent. This reduction will be funded by the new tax revenue collected from oil production by private enterprises.
Related Posts
US, Mexico lock in September USMCA talks as auto content dispute deepens
The US and Mexico will meet for a fourth negotiating round in early September 2026 to work through disagreements on revamping the 26-year-old North American trade agreement (USMCA). US Trade Representative (USTR) Jamieson Greer held talks this
Read More
US targets interim USMCA deals with Mexico, Canada by year-end as full overhaul slips to 2027
US Trade Representative (USTR) Jamieson Greer signalled this week that the Trump administration has abandoned hope of completing a full USMCA overhaul this year. Speaking before the Senate Finance Committee on 22 July 2026, Greer said he aimed to
Read MoreUS, Mexico to convene for third round of USMCA negotiations tomorrow
The US will meet with Mexico in Mexico City for the third bilateral negotiating round related to the Joint Review of the United States-Mexico-Canada Agreement (USMCA) on 21 July 2026, according to a release by the USTR dated 17 July 2026. This
Read MoreUSMCA: US says constructive discussions with Mexico, Canada yet to produce concessions
The US is making progress in negotiations with Mexico to revise the US-Mexico-Canada Agreement (USMCA), while discussions with Canada have yet to produce the concessions sought by the Trump administration, US Trade Representative Jamieson Greer said
Read More
UK activates CPTPP rates for Mexico amidst Widespread Tariff Restructuring
The UK's trade landscape was reshaped by over 17,000 regulatory changes this week, a volume dominated by administrative restructuring and targeted policy implementation. The strategic headline was the activation of new 0% duty rates for Mexican beef
Read MoreUS, Mexico square off over automotive content in USMCA overhaul
The US and Mexico have launched formal bilateral negotiations to restructure the six-year-old US-Mexico-Canada Agreement (USMCA), with Washington pushing for stricter regional content rules—most notably, a new US-specific minimum threshold for
Read More