CAPITAL BUDGETING MODEL FOR PEMEX EXPLORACION Y PRODUCCION

Irma Glinz, Idalia Flores

Аннотация


This document gives a panoramic vision of PEMEX in general and PEMEX Exploracion y Produccion (PEP) in particular; analyzes the behavior of its investments and its oil potential, which finally constitutes the justification for the "Capital budgeting model" that PEP successfully employs. This model is an application of Optimization Techniques and, specifically, Binary Integer Programming.

Полный текст:

PDF

Литература


>[1] Basak, S., Shapiro and L. Tepla 2003. “Risk management with benchmarking”, working paper, Stern School of Business, New York University, New York.

[2] Corzo L., General Director of PEMEX, “Discurso correspondiente a la Ceremonia de Conmemoración del LXVII Aniversario de la Expropiación Petrolera”. March/2005.

[3] Corzo L., General Director of PEMEX, “Informe Anual 2004”. June/2005.

[4] Cheng, M. M., A. K. Schulz, P. F. Luckett and P. Booth. “The effects of hurdle rates on the level of escalation of commitment in capital budgeting”. Behavioral Research In Accounting (15): 63-86. 2003.

[5] Flores I., “Apuntes de Programación Entera”, DEPFI, UNAM, 2002

[6] Floudas Ch.”Non linear and Mixed Integer Optimization: Fundamentals and Applications”. Oxford Univ. Pr. 1995.

[7] Glinz I., “Modelo para la Selección Óptima de Proyectos de Inversión (MOSOI) de PEMEX Exploración y Producción”. PEMEX Exploración y Producción, Gerencia de Planeación, 1999.

[8] Habbib F. Faris. “Capital Budgeting: A Process by Design” Arab News, Monday, 27, June, 2005.

[9] Hammer P.I., “Studies in Integer Programming”. Elsevier Science Ltd. 1977.

[10] Hawawini, G. and C. Viallet..“Finance for Executives: Managing for Value Creation”, 2e. South-Western Educational Publishing. 2002

[11] Hillier y Lieberman, “Investigación de Operaciones”, Mc Graw Hill, 2004.

[12] Milano M., “Constraint and Integer Programming: Toward a Unified Methodology”. Kluwer Avademic Pub. 2003.

[13] Nemhauser G.L. and Wolsey Laurence, “ Integer and Combinatorial Optimization”. Wiley, 1999.

[14] Pagano, M. S. and D. E. Stout. 2004. “Calculating a firm's cost of capital”. Management Accounting Quarterly (Spring): 13-20. (Link to Spring 2004).

[15] PEMEX Exploración y Producción. “Las reservas de hidrocarburos de México al 1 de enero de 2005”, Seventh Edition.

[16] PEMEX, “Informe Estadístico de Labores 2004”, http://www.pemex.com.

[17] PEMEX, “Reporte de resultados financieros”, http://www.pemex.com. La

[18] Schrijver Alexander, “Theory of Linear and Integer Programming”. Wiley,1998.

[19] Salkin H., “Integer Programming”, Addison-Wesley Pub. Co. 1975.

[20] Seitz, N. and M. Ellison. 2004. “Capital Budgeting and Long-Term Financing Decisions”, 4e. South-Western Educational Publishing.

[21] Shapiro, A. C. 2004. “Capital Budgeting and Investment Analysis”. Prentice Hall.

[22] Walukiewicz S., “Integer Programming”. Kluwer Academic Pub. 1990.


Ссылки

  • На текущий момент ссылки отсутствуют.