In the next five years, Mexican oil monopoly Petroleos Mexicanos (Pemex) needs to spend up to $33 billion on exploration and production activities or its crude and natural gas production could decline by as much as one third, forcing the country to become more of an importer than an exporter, according to the company’s director. Mexico currently is the seventh largest oil producer in the world, and is one of the top three exporters to the United States.
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Articles from Mexicanos
Pemex Backs Off Privatization, Urges More Investment
The general director of Mexico’s oil and gas monopoly Petroleos Mexicanos (Pemex) said last week that while he supports more private investments in certain sectors to make the country’s energy resources more efficient, the oil and gas industry will remain under government control. Raul Munoz Leos agreed that Mexico faces energy problems unless changes are made, but said the country can get from here to there without privatization.
Pemex Director Backs Off Privatization, but Urges More Investment
The general director of Mexico’s oil and gas monopoly Petroleos Mexicanos (Pemex) said last week that while he supports more private investments in certain sectors to make the country’s energy resources more efficient, the oil and gas industry will remain under government control. Raul Munoz Leos agreed that Mexico faces energy problems unless changes are made, but said the country can get from here to there without privatization.
PEMEX Recommissioning 10 Sour Gas Plants
Signaling the continuing ramp-up of natural gas production inthe country, Mexico’s Petròleos Mexicanos (PEMEX) lastweek awarded a $5 million engineering, procurement and constructioncontract to recommission and upgrade 10 sour gas sweetening plantsin Chiapas at the Cactus Petrochemical Complex.
BJ, Precision Get Burgos Basin Deal
BJ Services and Precision Drilling were awarded a major fielddevelopment contract by Petroleos Mexicanos (Pemex). The projectentails the drilling and completing of 240 gas wells in the BurgosBasin, which covers more than 21,000 square miles and is located inthe northeastern part of Mexico near Camargo.
BJ, Precision Get Burgos Basin Deal
BJ Services and Precision Drilling were awarded a major fielddevelopment contract by Petroleos Mexicanos (Pemex). The projectentails the drilling and completing of 240 gas wells in the BurgosBasin, which covers more than 21,000 square miles and is located inthe northeastern part of Mexico near Camargo.
Coral and Pemex Team Up on Border Crossing Pipeline
Coral Energy and Mexico-based Petroleos Mexicanos (Pemex) completed their 104-mile pipeline linking the Pemex pipeline system at Arguelles in the Mexico state of Tamaulipas with Coral’s pipeline system on the King Ranch in South Texas.
Mexico’s Pemex Sets Sights on Deepwater
Although a lot of leg work still remains to be done, PetroleosMexicanos, the national oil company of Mexico, plans to drill fivedeepwater wells in the deepwater Gulf of Mexico in the next sevento 10 years, according to a petroleum engineer for PemexExploration & Production.
Tennessee Gas to Link with Mexico’s Pemex
El Paso Energy’s Tennessee Gas Pipeline unit agreed in principlewith Pemex Gas Y Petroquimica Basica, a subsidiary of PetroleosMexicanos, to interconnect facilities between the companies’pipelines. The new facilities will be built from the end ofTennessee’s Donna lateral in Hidalgo County, TX, across theinternational border to Pemex’s existing facilities at Reynosa,Mexico. The interconnect is expected to be in service by January1999.