Alberto de la Fuente, CEO of Shell Mexico and president of Amexhi, explained that companies currently pay an average of 74% of their income in royalties for selling hydrocarbons to the Mexican state.
Private companies have invested more than 700 billion pesos (US$ 35.103 billion) in the last eight years in the Mexican oil sector, which is almost double the budget that the State has planned for 2024 in the sector, said the Mexican Association of Oil Companies (Amexhi), which asked the next administration of Claudia Sheinbaum to use all its creativity to design new partnership schemes between the state-owned company Petróleos Mexicanos (Pemex) and operators who wish to participate in the exploration and production of hydrocarbons in the Aztec country.
Alberto de la Fuente, CEO of Shell Mexico and president of Amexhi, explained that companies currently pay an average of 74% of their income in royalties for marketing hydrocarbons to the Mexican State - since they signed contracts with beneficial conditions for the country - "it is one of the highest rates in the world," he explained.
"We are facing a change of government and that always opens hopes, dreams and a great desire to work with the administration that begins in a couple of weeks and I am sure that we will be able to do great things for Mexico," said the businessman during his participation in the Eighth Oil Convention, in Mexico City.
De la Fuente explained that over the eight years in which companies have managed to operate in the country since the opening to private investment in hydrocarbon exploration and production, 21 new deposits have been found and they are responsible for the creation of 65,000 jobs. In May, they contributed 96,000 barrels of oil per day and 187 million cubic feet of gas.
In order to continue promoting the country's growth, as is one of the objectives of Amexhi (where Pemex is affiliated), the business representative highlighted the convenience of generating public-private alliances that would strengthen the state-owned company while allowing third parties to actively participate in the sector.
"Mexico's growth is supported by a robust and resilient energy sector," he said. "It will be essential to have a solid legal framework capable of clearly defining the obligations to which we are subject, but also the rights of all the actors who form part of the sector."
Alessandra Testoni, director of Sustainability at the Italian company ENI Mexico, which is the private operator with the highest cumulative oil production since the opening of 2015, stated at the same forum that with the arrival of a woman to the presidential chair, there are high expectations that the economy will advance towards a growth scheme also supported by gender parity.
