Mexican State received $ 25.4 from Pemex in 1998

Pemex contributed $ 25.4 bn to the public treasury last year, 32.6 % of fiscal income, announced the Finance Ministry.
A report showed that the oil income of Mexico dropped 3.8 % as compared with that in the previous year.
The oil price drop in 1998 forced finance authorities to make three public spending cuts totalling $ 2.98 bn.
The government had estimated a $ 15.50 average oil price per barrel, but the price of the Mexican mix was $ 10.16 per barrel at the end of last year, which meant a 38.3 % reduction.
Oil income represented 51 % of the government income in 1983, however, that contribution dropped to 32.6 % in 1998.