Petroleos

Mexico’s state-owned energy company Petroleos Mexicanos (Pemex) said this week that private investment by companies through the country’s multiple service contracts (MSCs) will produce 89 MMcf/d by the end of this year.

Mexico’s state-owned energy company Petroleos Mexicanos (Pemex) said this week that private investment by companies through the country’s multiple service contracts (MSCs) will produce 89 MMcf/d by the end of this year.

The chief executive of Petroleos Mexicanos (Pemex) resigned last Monday following rumors of a possible scandal involving payouts for personal healthcare and housing loans without seeking approval from the state-controlled oil monopoly. Raul Munoz Leos, 65, will be replaced by Luis Ramirez Corzo, director general of exploration and production (E&P) since 2001.

The chief executive of Petroleos Mexicanos (Pemex) resigned on Monday following rumors of a possible scandal involving payouts for personal healthcare and housing loans without seeking approval from the state-controlled oil monopoly. Raul Munoz Leos, 65, will be replaced by Luis Ramirez Corzo, director general of exploration and production (E&P) since 2001.

The chief executive of Petroleos Mexicanos (Pemex) resigned on Monday following rumors of a possible scandal involving payouts for personal healthcare and housing loans without seeking approval from the state-controlled oil monopoly. Raul Munoz Leos, 65, will be replaced by Luis Ramirez Corzo, director general of exploration and production (E&P) since 2001.

After three years of 3-D seismic mapping, Mexico’s Petroleos Mexicanos (Pemex) engineers claim to have discovered several oil and natural gas deposits in the deep waters of the Gulf of Mexico that could double the country’s total reserves and boost output to rival other world-class producers.

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.

Houston-based Marathon Oil Corp., the Equatorial Guinea government and the national oil company of Equatorial Guinea, Compania Nacional de Petroleos de Guinea Ecuatorial (GEPetrol), said last Tuesday they have finalized all the agreements for the companies’ Equatorial Guinea liquefied natural gas (LNG) project that would target deliveries to Lake Charles, LA.

Houston-based Marathon Oil Corp., the Equatorial Guinea government and the national oil company of Equatorial Guinea, Compania Nacional de Petroleos de Guinea Ecuatorial (GEPetrol), said Tuesday they have finalized all the agreements for the companies’ Equatorial Guinea liquefied natural gas (LNG) project that would target deliveries to Lake Charles, LA.