Monopoly

Gazprom Deputy CEO Alexander Ryazanov said last week that the Russian gas monopoly intends to form a final consortium by mid year to produce and liquefy natural gas from the 113 Tcf Shtokman field in the Barents Sea for export to U.S. markets.

In its on-again off-again attempt to secure more natural gas exploration in its country, Mexico’s state-owned oil monopoly Petroleos Mexicanos (Pemex) said Tuesday a group of five Houston-based and Mexican companies is bidding for a contract to develop the Monclova block of natural gas reserves in the Burgos Basin of northeastern Mexico.

Gazprom Deputy CEO Alexander Ryazanov said over the weekend that the Russian gas monopoly intends to form a final consortium by mid year to produce and liquefy natural gas from the 113 Tcf Shtokman field in the Barents Sea for export to U.S. markets.

Mexico’s state-owned oil and gas monopoly Petroleos Mexicanos (Pemex) opened its second round of tender offers for companies interested in exploring for natural gas in the Burgos Basin. Pemex will take bids on four new blocks in the region located south of Texas. Through its multiple-service contracts, which allow international companies to take part in exploration, Pemex last year awarded tenders for five blocks in the basin. The contracts are part of Mexico’s plan to halve the country’s gas imports by 2007. Last year, Mexico’s gas output totaled 4.4 Bcf/d. Pemex will take bids for the Pandura-Anahuac and Ricos blocks through Oct. 26. Tenders for the Pirineo and Monoclonal blocks will begin Aug. 17 and will be taken through Nov. 23. In total, Pemex said the contracts are worth $2.7 billion.

With rising natural gas demand and underutilized production, Mexico’s state-owned oil and gas monopoly is considering several sources to boost the needed commodity. Along with plans to auction the remaining two Burgos Basin blocks this summer, Mexico also is considering not only siting more liquefied natural gas (LNG) terminals, but importing it as well, according to officials with Petroleos Mexicanos (Pemex).

With rising natural gas demand and underutilized production, Mexico’s state-owned oil and gas monopoly is considering several sources to boost the needed commodity. Along with plans to auction the remaining two Burgos Basin blocks this summer, Mexico also is considering not only siting more liquefied natural gas (LNG) terminals, but importing it as well, according to officials with Petroleos Mexicanos (Pemex).

Mexico’s state-owned oil and natural gas monopoly plans to cut 3,000-5,000 jobs as it restructures this year, according to Energy Minister Felipe Calderon. The job cuts follow news from Petroleos Mexicanos (Pemex) earlier this month that it lost $89 million in the first quarter.

Mexico’s state-owned oil and natural gas monopoly plans to cut 3,000-5,000 jobs as it restructures this year, according to Energy Minister Felipe Calderon. The job cuts follow news from Petroleos Mexicanos (Pemex) earlier this month that it lost $89 million in the first quarter.

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.