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For rights to hydrocarbons, Mexico captures 114,368 million pesos

Mexico captured 114.368 million pesos of rights to hydrocarbons in the first half of 2020, according to data from the Ministry of Finance and Public Credit (SHCP).

In December 2013, the Decree amending various provisions of the Political Constitution of Mexico on energy matters was published, in which it is indicated that the Nation will carry out the activities of exploration and extraction of oil and other hydrocarbons, through the granting of assignments and contracts.

In addition, it is noted that the State will have a public trust called the Mexican Petroleum Fund for Stabilization and Development (FMP), with the Bank of Mexico as fiduciary agent and that will have the purpose of receiving, managing and distributing the income derived from the assignments and contracts for exploration and extraction of hydrocarbons, with the exception of taxes, in the terms established by law.

In August 2014, the Law of the Mexican Petroleum Fund for Stabilization and Development (LFMP) was published, establishing the rules for its constitution and operation and, later, in September of the same year, it was signed by the SHCP and the Bank of Mexico its constitutive contract.

Hydrocarbons

The income received in the FMP for assignments and contracts for the second quarter of 2020 is shown in the following table:

For its part, the FMP has made ordinary transfers to the Federal Government in accordance with the Federal Budget and Fiscal Responsibility Law (LFPRH) and the LFMP, for stabilization funds, funds with specific destination (science and technology, auditing and municipalities) and the Federation Treasury to cover the Federation Expenditure Budget (PEF) 2020.

The information on the income obtained by the Mexican State derived from the contracts and the rights to which said Law refers is presented below.

 

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