Pemex Says Mexico Plans $7.3 Billion In Tax Breaks -- May 27, 2019

Link here.

This may be a story that has been posted before, but the last note I remember regarding tax breaks for Pemex was $3.5 billion.

This article suggests that Mexico (aka AMLO) is seeking as much as $7.3 billion worth of tax breaks in 2020 and 2021. The previous amount was for $3.5 spread out over six years.

But this, at the linked article at the top probably says it all:

While the tax breaks are positive, said John Padilla, managing director of IPD Latin America, they will have no real impact unless Pemex can reverse falling output. “All they’re doing is diverting from one pocket to the other,” he said. “Money will no longer resolve what ails a very debilitated Pemex.”

The road-to-Mexico is tracked here.