Mexico state-owned oil monopoly Petroleos Mexicanos (Pemex) has signed a five-year agreement with ExxonMobil Corp. to share technical and scientific information. The agreement renews a previous collaboration agreement between the two companies, said officials. Mexico President Enrique Pena Nieto, who took office in December, recently told reporters that Pemex wouldn’t be sold or privatized, but it would be modernized. Pemex, Mexico’s largest company, provides nearly all of its profits to the federal government. Natural gas production in Mexico has risen slightly from a year ago, but it has fallen over the past four years, according to Pemex. In February, gas output was 6.475 Bcf/d, compared with 6.430 Bcf/d a year ago. However, 2012 gas output averaged an estimated 6.385 Bcf/d, versus 6.594 Bcf/d in 2011 and 7.020 Bcf/d in 2010. Mexico also is a net crude oil exporter, but production fell to less than 3 million bbl in 2011 from almost 4 million bbl in 2003-2004.
Upfitting Ford trucks to run on compressed natural gas (CNG) just got cheaper, at least according to Venchurs CNG, which said it is discounting the price of conversions for Ford F-250 and F-350 trucks through April 19. The move is designed to clear out its inventory of CNG cylinders to make room for a new “Type IV” tank it is getting from a unit of 3M Corp. Venchurs officials called the discounts “significant” but did not specify the amounts. Longer term, the new 3M products also could cut the overall cost of converting vehicles, said Venchurs CEO Jeff Wyatt. Venchurs offers both dedicated CNG and CNG-gasoline bifuel conversions.
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