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.
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Canadians Eye Horn River Gas for Next Generation
In natural gas, Texans have no monopoly on thinking big. When prices make a comeback Canadians — including affiliates of international producers with high profiles in the Lone Star State — say they will be ready to launch the next generation of supplies on a scale deserving to rate as large by any standard.
In British Columbia, a Horn River of Plenty
In natural gas, Texans have no monopoly on thinking big. When prices make a comeback Canadians — including affiliates of international producers with high profiles in the Lone Star State — say they will be ready to launch the next generation of supplies on a scale deserving to rate as large by any standard.
Pemex CEO Says Oil Monopoly in ‘Critical’ Situation
The oil and natural gas reserves of Mexico’s Petroleos Mexicanos (Pemex) have been cut in half since 2002, and the state-run monopoly now faces a “critical” situation, the CEO said last week.
Pemex CEO Says Oil Monopoly in ‘Critical’ Situation
The oil and natural gas reserves of Mexico’s Petroleos Mexicanos (Pemex) have been cut in half since 2002, and the state-run monopoly now faces a “critical” situation, the CEO said Sunday.
Pemex Considering Alliances with Foreign Energy Producers
Mexico’s state oil monopoly Petroleos Mexicanos (Pemex) is considering an alliance with Royal Dutch Shell and other energy companies to jointly explore a region of the Gulf of Mexico that sits on its maritime border with the United States, according to Carlos Morales, director general for exploration and production.
Pemex Suspends MSC Program Until Legislation Enacted
Mexico’s state-owned oil monopoly Petroleos Mexicanos (Pemex) has suspended its program to offer multiple service contracts (MSCs) to foreign oil and natural gas producers at the request of a legislative auditor, Pemex CFO Juan Jose Suarez Coppel said this week.
Pemex Increases Exploration Spending to Boost Reserves
The director of exploration and production (E&P) for Mexico’s state-run oil monopoly Petroleos Mexicanos (Pemex) said the company is stepping up its spending to increase its proven reserves replacement from the current 15% a year to 77% by 2010.
Pemex Increases Exploration Spending to Boost Reserves
The director of exploration and production (E&P) for Mexico’s state-run oil monopoly Petroleos Mexicanos (Pemex) said the company is stepping up its spending to increase its proven reserves replacement from the current 15% a year to 77% by 2010.
Pemex Chief Calls for Larger Exploration Budget
Without new discoveries and more investment for exploration activities, Mexico’s state oil monopoly Petroleos Mexicanos (Pemex) could be importing oil within 10 years, the director general said last week. However, if it doubled its current $20 billion annual investment, Pemex could become one of the largest oil and natural gas exporters, according to Luis Ramirez Corzo, who took over Pemex last November.
