In an effort to boost oil and gas production, the chief of Mexico’s state-owned Petroleos Mexicanos (Pemex) announced that the company will drill its first Gulf of Mexico deepwater well this year in collaboration with an international petroleum consortium. Although no project partners were revealed, Pemex’s Raul Munoz Leos said drilling would be completed with state-of-the-art technology.
Mexicanos
Articles from Mexicanos
Pemex’s Earning Loss Continues As Energy Sales Climb
Despite a strong boost from increased sales, Petroleos Mexicanos’ (Pemex) net loss for full year 2003 grew by 37% over 2002’s loss. Attributing the fall-off to increased tax and royalty payments made to the federal government, Mexico’s state oil and gas monopoly posted a 2003 loss of $3.7 billion. Income before taxes and duties increased 29% to $30.3 billion. Taxes and duties for the year came in at $34 billion, an increase of 30% from 2002.
Tidelands Inks Gas Storage Facility Agreement with Pemex
Tidelands Oil & Gas Corp. has entered into an agreement with Petroleos Mexicanos y Sus Organismos Subsidiarios (Pemex), Mexico’s state-owned petroleum company, to design, build and operate an underground natural gas storage facility and related surface equipment for Pemex near Reynosa, Tamaulipas, Mexico.
Tidelands Inks Gas Storage Facility Agreement with Pemex
Tidelands Oil & Gas Corp. said Monday that it has entered into an agreement with Petroleos Mexicanos y Sus Organismos Subsidiarios (Pemex), Mexico’s state-owned petroleum company, to design, build and operate an underground natural gas storage facility and related surface equipment for Pemex near Reynosa, Tamaulipas, Mexico.
Burgos Basin Block Attracts Two Bidders
After failing to attract any bids on two Burgos Basin blocks, Petroleos Mexicanos (Pemex) said two international groups are competing to develop non-associated natural gas reserves in the Fronterizo, one of the basin’s smaller blocks.
Burgos Basin Block Attracts Two Bidders
After failing to attract any bids on two Burgos Basin blocks, Petroleos Mexicanos (Pemex) said two international groups are competing to develop non-associated natural gas reserves in the Fronterizo, one of the basin’s smaller blocks.
Pemex Says No Bids Offered on Ricos Gas Block
Petroleos Mexicanos (Pemex), Mexico’s state-owned oil and gas company, received no bids by the deadline Wednesday for its Ricos natural gas block, located in the Burgos Basin. It was the second week in a row that Pemex failed to attract even one bidder to produce non-associated gas in the northeast Mexico basin.
Mexican Energy Concerns Expected to Bid for MSCs in Burgos Basin
Petroleos Mexicanos (Pemex) expects more competition when it tenders the bids for Cuervito, another natural gas field in the prolific Burgos Basin. The winner of the Cuervito multiple service contract (MSC) is expected to be announced within two weeks.
Pemex Debt Offering to Fund Expanded E&P Program
Mexico’s oil and gas monopoly, Petroleos Mexicanos (Pemex), is planning to launch one of the largest debt issues ever by any state-owned or private company in the country, announcing plans last week to issue 10-year peso-denominated debt for up to 20 billion pesos ($1.78 billion). Among other things, the proceeds would fund a sorely needed exploration and production (E&P)program.
Pemex Debt Offering to Fund Expanded E&P Program
Mexico’s oil and gas monopoly, Petroleos Mexicanos (Pemex), wants to launch one of the largest debt issues ever by any state-owned or private company in the country, announcing plans this week to issue 10-year peso-denominated debt for up to 20 billion pesos ($1.78 billion). Proceeds would fund a large capital expenditure program to boost declining reserves and increase oil and gas production.