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Factors that explain the results of the national oil companies: The impact of the fiscal role on Pemex's results

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  • Silva Gutiérrez, David
  • Paz, María J.
  • Moreno Vite, Atziri

Abstract

The difficult situation that Pemex is currently experiencing not only contrasts with the company's trajectory in previous decades, when it became a reference for other Latin American companies in the sector, but also with the expansion and control of the world energy market that has characterised other public oil companies. This paper, our aim was therefore to identify the performance determinants of public oil companies and, specifically, to discuss a factor that has been frequently debated in the specialised literature ―the role that the company plays as an instrument of the national fiscal policy. This work shows how the dynamic relationship established between the State and the company through its role in the national developmental strategy helps to explain company performance in the sphere of production at two different time points in its long history.

Suggested Citation

  • Silva Gutiérrez, David & Paz, María J. & Moreno Vite, Atziri, 2021. "Factors that explain the results of the national oil companies: The impact of the fiscal role on Pemex's results," Resources Policy, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:jrpoli:v:74:y:2021:i:c:s0301420721002919
    DOI: 10.1016/j.resourpol.2021.102280
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    References listed on IDEAS

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    1. Al-Mana, Ali A. & Nawaz, Waqas & Kamal, Athar & Koҫ, Muammer, 2020. "Financial and operational efficiencies of national and international oil companies: An empirical investigation," Resources Policy, Elsevier, vol. 68(C).
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    3. Ramírez-Cendrero, Juan M. & Paz, María J., 2017. "Oil fiscal regimes and national oil companies: A comparison between Pemex and Petrobras," Energy Policy, Elsevier, vol. 101(C), pages 473-483.
    4. Piret TONURIST & Erkki KARO, 2016. "State Owned Enterprises As Instruments Of Innovation Policy," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 87(4), pages 623-648, December.
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    Cited by:

    1. Josef Pavlata & Petr Strejček & Peter Albrecht & Martin Širůček, 2021. "The Empirical Linkage between Oil Prices and the Stock Returns of Oil Companies," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 7(2), pages 186-197.
    2. Marika Arena & Giovanni Azzone & Sara Ratti & Valeria Maria Urbano & Giovanni Vecchio, 2023. "Sustainable development goals and corporate reporting: An empirical investigation of the oil and gas industry," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 12-25, February.
    3. Tatyana Semenova & Juan Yair Martínez Santoyo, 2023. "Economic Strategy for Developing the Oil Industry in Mexico by Incorporating Environmental Factors," Sustainability, MDPI, vol. 16(1), pages 1-38, December.

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