[Vision2020] RE: Error: Petroleum Intelligence Weekly: Pemex Below Exxon & Chevron, etc.

[Phil Nisbet]

Ted

And thats $82 Billion in revenues on an annualized basis of which the 
Mexican Government cremes off 61%.  Even if you do your differential for 
taxes at 20%, that comes in at an extra $16 billion a year to PEMEX coffers, 
in and above the close to a billion in offical profits.

If you had a market based gasoline price of the $2.60 that we are seeing 
here instead of the $1.90 price we see in Mexico right now, PEMEX would be 
rolling in clover.

Phil Nisbet


>From: Tbertruss at aol.com
>To: vision2020 at moscow.com, pcnisbet1 at hotmail.com
>Subject: Error: Petroleum Intelligence Weekly: Pemex Below Exxon & Chevron, 
>etc.  Date: Sat, 27 Aug 2005 23:48:16 EDT
>
>
>Phil et. al.
>
>The post today subject headed as above contains a significant error.
>
>The statement below from this web site should read "...as sales rose to 
>221.3
>billion pesos ($20.5 billion),...."  not ($20.5 million)
>
>http://www.latinpetroleum.com/article_4444.shtml
>
>This is the exact quote below from this web site, but they made the error,
>which I discovered, as it is simple math that 221.3 billion pesos is not 
>equal
>to $20.5 million dollars but rather $20.5 billion.
>
>"Pemex, 100 percent state owned and the government's main cash cow, 
>reported
>a quarterly net profit of 1.9 billion pesos ($200 million) on Tuesday as 
>sales
>rose to 221.3 billion pesos ($20.5 million), up 14 percent on the year."
>
>Ted Moffett

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