Mexico’s Petroleos Mexicanos (Pemex) was reported Thursday on both sides of the U.S.-Mexico border to be contemplating layoffs of up to 15,000 workers as apart of an overhaul of the government’s energy supply operations. However, NGI sources in California and Mexico City said it may be premature to talk about the possible downsizing of a workforce that is 72% union represented. “Given new appointments [to senior positions], there is a plan to reorganize the company into upstream and downstream segments,” said a Mexico City source who follows Pemex. A total restructuring is “still in process, so nothing has happened so far,” the source said. In California, an energy attorney specializing in Latin America said he had not heard of any layoffs, but any such move would be part of Pemex’s upcoming “modernization and streamlining efforts.” A spokesperson for Sempra Energy, which has extensive holdings in Mexico, said the company’s Mexico City office was unaware of any Pemex plans for layoffs.
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Malaysian national oil company Petronas has increased to approximately C$6 billion its bid for Progress Energy Resources Corp. in a deal that would create a company that would deliver Canadian natural gas to world markets, Progress said. The amended offer was made in an effort to block an unsolicited proposal from another company.
Malaysian national oil company Petronas plans to combine its liquefied natural gas (LNG) expertise with the unconventional resources abilities of Calgary-based Progress Energy Resources Corp. by acquiring Progress in a deal worth C$5.5 billion including debt. The combined enterprise would deliver Canadian natural gas to world markets.
Earthquakes such as the one that forced a wastewater disposal well in Youngstown, OH, to be closed at the beginning of the year can be avoided if oil, natural gas and service companies are more knowledgeable of the local and regional geology.
The Ohio company that owns a wastewater disposal well in Youngstown shut down by state regulators for allegedly triggering a series of earthquakes will pay for a study to determine the cause of the seismic activity.
In e-mail notices that arrived a minute apart Thursday morning, Southern California Gas declared a high-linepack OFO for the same day and then extended it through at least Friday. The tolerance for positive daily imbalances was set at 10% in both cases. The distributor also said it will lose 30 MMcf/d of storage injection capacity from next Tuesday through June 10 due to anomaly repairs on Line 1004.
Alta Energy Partners, a newly formed joint venture of privately held Alta Resources LLC and an affiliate of The Blackstone Group, launched plans Tuesday to invest up to $1 billion in unconventional natural gas and oil properties in North America.
A budget deal reached more than three weeks ago by Pennsylvania lawmakers fell apart late Thursday after Democratic legislators tried once again to impose a tax on, among other things, natural gas extraction.
As Frances was breaking apart over Georgia and the Carolinas Tuesday, all eyes in the gas market quickly turned to Hurricane Ivan, which the National Hurricane Center (NHC) indicated may take a track similar to, but more westerly than, recent Hurricane Charley into the eastern Gulf of Mexico, possibly disrupting gas and oil production.
Up to 800 MMcf/d of capacity in northern Alberta has been impacted by two ruptures earlier this week about 15 kilometers apart on a 36-inch NOVA line (see Daily GPI, Dec. 3). Emphasizing they were only ballpark figures, a pipeline spokeswoman said the segment where the ruptures occurred usually flows 1 Bcf/d but has been restricted to about 200 MMcf/d. An unspecified amount of deliveries were affected, she said. That volume was hard to calculate because presumably customers may have been able to re-source gas elsewhere. Crews are working on the ruptures 24 hours a day, the spokeswoman said, but there is no prognosis yet on when full service will be restored. Pipeline ruptures are fairly rare anyway, she noted, so having two close together within a short time period is very rare. Investigators are evaluating the sites; at this point there are no suspicions of terrorism being involved, she said. In response to the ruptures, NOVA said Wednesday it is operating supplemental compression at Zama Lake to move additional flow from Segment 1 (UPRM) into Segment 3 (NWML). It also is moving additional supplemental compression into the area in order accommodate additional flow in Segments 1, 2, partial 5, 26 and 27. See the bulletin board for other actions and restrictions prompted by the ruptures.