PEMEX (Petróleos Mexicanos) – Company Overview
|Company||PEMEX (Petróleos Mexicanos)|
|Headquarters||Avenida Marina Nacional #329 C3, Col. Verónica Anzures, Del. Miguel Hidalgo, Distrito Federal C.P. 11300|
|CEO||José Antonio González Anaya|
|CFO||Juan Pablo Newman Aguilar|
|Industry||Oil and gas|
|Net Sales||$1,166,362,469 million MXN (2015)|
|Operating loss||$(154,387,081) million MXN (2015)|
|Net loss||$(712,567,398) million MXN (2015)|
|IR contact number||(+52 55) 1944 2500|
|IR email address||[email protected]|
Petróleos Mexicanos, also known as Pemex, is a Mexican state owned oil and gas company.
The company was created in 1938 following a decision by the Mexican President Lázaro Cárdenas to nationalize the petroleum industry and remove all foreign and domestic competition.
Pemex is the second largest company in Latin America by annual revenue – only to be surpassed by the Brazilian oil company Petrobras.
As of 2014 most of the company’s shares are controlled by the Mexican government and not listed publicly. It it also pays very high taxes and has had to borrow massively to make ends meet. Pemex currently owes $42.5 billion.
Pemex – Business Focus
Pemex is active in many aspects of the oil and gas industry. The company has five main business divisions:
- PEMEX Exploración y Producción (PEP) – The exploration, production, distribution, and marketing of oil and natural gas.
- PEMEX Refinación – refining, processing of petroleum and petroleum products.
- Pemex Gas y Petroquímica Básica (Pemex Gas) – transports and markets natural gas, liquid hydrocarbons and basic petrochemicals.
- PEMEX Petroquímica – petrochemical processes derived from primary processing of natural gas, methane, ethane, propane and gasoline Petróleos Mexicanos.
- PMI Comercio Internacional, S.A. de C.V. – this branch focuses on the international market, handling imports and exports of crude oil.
PEMEX (Petróleos Mexicanos) – Financial Results
|Key figures (in millions of MXN)||2015*||2014*|
|Operating (loss) income||$(154,387,081)||$615,480,011|
|Gross (loss) income||$(114,474,036)||$721,447,394|
|Cash and cash equivalents at beginning of period||$117,988,528||$80,745,719|
|Cash and cash equivalents at end of period||$109,368,880||$117,988,528|
*For the years ended December 31, 2015 and 2014
Source: “PEMEX (Petróleos Mexicanos) – 2015 Financial Results”