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Mexican state oil company pumps €327m into Irish subsidiary | Business Post

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Mexican state oil company pumps €327m into Irish subsidiary, reports whytebarry.

Pemex: its Irish subsidiary, PMI Trading handles the trading of billions of dollars of crude oil and oil derivatives under authorisation from the Mexican state-owned oil company. Picture: Shutterstock

Pemex, the Mexican state-owned oil company, has moved $362.5 million into its Irish subsidiary, new company documents show. The subsidiary, PMI Trading, is headquartered in Ireland, but resident for tax purposes in Mexico. It handles the trading of billions of dollars of crude oil and oil derivatives under authorisation from Pemex.

The purpose of the share transaction is not clear, and efforts to reach PMI Trading for comment prior to publication were not successful.

 

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