Pemex | GlobalPost

Mexican daily: Pemex admits "serious" corruption

Agencia EFEMay 17, 2013 15:46

Mexico City, May 17 (EFE).- State-owned Petroleos Mexicanos admits that "serious" corruption exists in some areas of the company and that contracting processes in particular have been plagued by "interference from organized crime," a leading Mexican daily said Friday. In a front-page story, El Universal said Pemex representatives and members of the Mexican Construction Industry Chamber drew that conclusion at a meeting in late April.

Mexico's Pemex sues former exec in U.S. court

Agencia EFEMay 14, 2013 18:48

Mexico City, May 14 (EFE).- State-owned Petroleos Mexicanos is suing former executive Cesar Nava, erstwhile chairman of Mexico's conservative National Action Party, in the U.S. courts for his alleged involvement in a conspiracy to defraud the oil giant, Reforma newspaper said Tuesday. Nava is named in briefs expanding the $500 million lawsuit Pemex filed last December against Siemens AG and South Korea-based SK Engineering & Construction Co. for ostensibly bribing Pemex executives, the daily said.

Pemex, Statoil sign cooperation agreement

Agencia EFEMay 3, 2013 16:00

Mexico City, May 3 (EFE).- Mexican state-owned oil monopoly Petroleos Mexicanos said Friday it has signed a five-year cooperation agreement with Norway's Statoil covering the areas of research, technical, scientific and technological development and training. "This non-commercial agreement ... will promote collaboration in areas of mutual interest, without implying any provision of service," Pemex said in a statement.

Pemex deal will not bring management, staffing changes at Spanish shipyard

Agencia EFEMay 2, 2013 16:31

Vigo, Spain, May 2 (EFE).- The deal that gives state-owned oil giant Petroleos Mexicanos, or Pemex, a majority stake in Hijos de J. Barreras, a shipyard in the northwestern Spanish region of Galicia, will not lead to management or staffing changes, the shipbuilder's CEO, Jose Garcia Costas, told reporters Thursday. The executive said the confidentiality clause in the agreement prohibited him from providing further details about the letter of intent signed by Pemex with Barreras's three shareholders.

Mexico's economy grows 1 pct in 1st qtr.

Agencia EFEMay 1, 2013 16:16

Mexico City, May 1 (EFE).- Mexico's gross domestic product grew at an annual rate of 1 percent in real terms in the first quarter of this year after expanding at a 3.2 percent rate in the final three months of 2012, the government said. The economic growth numbers were included in reports on the economy, public finances and public debt submitted by the Finance and Public Credit Secretariat to Congress.

Pemex studies acquisition of Spanish shipyard

Agencia EFEMay 1, 2013 10:45

Mexico City, May 1 (EFE).- State-owned oil giant Petroleos Mexicanos, or Pemex, is mulling signing a letter of intent to acquire a majority stake in Hijos de J. Barreras, a shipyard in the northwestern Spanish region of Galicia, Pemex officials told Efe on condition of anonymity. Pemex adopted the resolution Monday at a meeting of its board of directors, although it did not indicate the precise stake it would seek to obtain.

Pemex CEO: Mexico needs energy industry reform

Agencia EFEApril 17, 2013 12:17

Mexico City, Apr 17 (EFE).- The CEO of Petroleos Mexicanos, or Pemex, said steps to reduce the company's heavy tax burden would be insufficient on their own and that a thorough energy overhaul is needed to pave the way for new investment and allow the state-owned company to modernize and become more profitable. "From the financial point of view, tax reform would not give Pemex the necessary ability to generate greater value for society," Pemex CEO Emilio Lozoya said Tuesday at the "Mexico: Opportunity and Growth" forum.

Spanish region targets more shipbuilding contracts in Mexico

Agencia EFEApril 16, 2013 11:16

Mexico City, Apr 16 (EFE).- The Spanish region of Galicia and the Mexican government have agreed to expand their shipbuilding alliance via Petroleos Mexicanos, or Pemex, with Galician shipyards now looking at the possibility of constructing more vessels for the state-owned oil giant. Galician regional government President Alberto Nuñez Feijoo discussed the status of the shipbuilding alliance after meeting on Monday in Mexico City with President Enrique Peña Nieto and high-level Mexican officials at the Los Pinos presidential palace.

Pemex, Exxon Mobil sign technical collaboration agreement

Agencia EFEApril 3, 2013 16:46

Mexico City, Apr 3 (EFE).- Petroleos Mexicanos has signed a technical-scientific collaboration agreement with U.S. energy giant ExxonMobil, the Mexican state-owned oil monopoly said Wednesday. The aim of the five-year accord is for the companies to cooperate on scientific, technological and human-resources research and development in the areas of hydrocarbon exploration, drilling, production, transportation and storage, Pemex said in a statement.

Gov't expects Mexico's economy to grow 4 pct in 2014

Agencia EFEApril 2, 2013 16:16

Mexico City, Apr 2 (EFE).- The government is maintaining its forecast for 4 percent gross domestic product (GDP) growth in 2014, based on the assumption that tax reforms are not implemented in Mexico, the Finance Secretariat said in a report to Congress. The figures confirm the economic package submitted for 2013, maintaining the GDP growth projection at 3.5 percent. "The economic activity and public finance estimates for 2013 and 2014 included in the document are based on the existing legal framework in our country at the time of its presentation," the secretariat said.