Connect to share and comment

Head of Mexican oil giant Pemex's E&P unit steps down

Mexico City, Feb 7 (EFE).- Mexican state oil company Petroleos Mexicanos said Friday that Carlos Morales Gil has stepped down as head of its exploration and production unit. His replacement will be Gustavo Hernandez Garcia, who had been serving as deputy director of planning and evaluation for the Pemex Exploracion y Produccion subsidiary, the company said in a statement. It gave no reason for his resignation. Morales Gil began his career at Pemex 30 years ago and had headed the E&P unit for the past nine years.

Mexico's foreign reserves rise by $2.39 bn

Mexico City, Feb 6 (EFE).- Mexico's foreign reserves rose by $2.39 billion last week to $179.57 billion, the Bank of Mexico said. Gold and foreign currency reserves grew in the week ending Jan. 31 mainly due to the sale of $2.35 billion by state-owned oil giant Petroleos Mexicanos, or Pemex, to the central bank. Reserves have grown by $3.04 billion since Jan. 1, the Bank of Mexico said in a statement. The money supply expanded by 14.67 billion pesos (about $1.1 billion) to 896.14 billion pesos (some $67.17 billion) last week, the central bank said.

Mexico's foreign reserves rise by $2.39 bn

Mexico City, Feb 6 (EFE).- Mexico's foreign reserves rose by $2.39 billion last week to $179.57 billion, the Bank of Mexico said. Gold and foreign currency reserves grew in the week ending Jan. 31 mainly due to the sale of $2.35 billion by state-owned oil giant Petroleos Mexicanos, or Pemex, to the central bank. Reserves have grown by $3.04 billion since Jan. 1, the Bank of Mexico said in a statement. The money supply expanded by 14.67 billion pesos (about $1.1 billion) to 896.14 billion pesos (some $67.17 billion) last week, the central bank said.

Mexico's oil reform an opportunity for UK firms

The "bold" reform opening Mexico's energy sector to foreign investment gives British companies the opportunity to offer their expertise in deep sea oil drilling, Britain's deputy prime minister said Wednesday. Deputy Prime Minister Nick Clegg spoke during a visit to Mexico City with a delegation of more than 40 British business leaders in sectors ranging from construction to engineering and energy.

Pemex awards flotel contracts to Spanish shipyards

Mexico City, Jan 29 (EFE).- State-owned oil giant Petroleos Mexicanos, or Pemex, said it awarded contracts to build two floating hotels to house workers to Spanish shipyards Barreras and Navantia. Hijos de J. Barreras and Navantia had bid for the contracts as part of a consortium that includes PMI Norteamerica, a unit of Pemex subsidiary PMI Comercio Internacional. The bidding was for 10-year contracts covering construction of the flotels and support services, such as food and housing, for the two ships.

Mexico's Pemex, Russia's Lukoil sign cooperation agreement

Mexico City, Jan 24 (EFE).- Mexican state-owned oil company Petroleos Mexicanos and Russia's Lukoil signed an agreement Friday to work jointly on exploration and production activities. Pemex CEO Emilio Lozoya and Lukoil's chief executive, Vagit Alekperov, signed the agreement in Davos, Switzerland, the Mexico City-based company said in a statement. The deal, which establishes that the companies will share experiences and knowledge pertaining to oil exploration and production, will enable Pemex to "bolster its operating and technological capacity," the statement added.

Mexico's Pemex, Russia's Lukoil sign cooperation agreement

Mexico City, Jan 24 (EFE).- Mexican state-owned oil company Petroleos Mexicanos and Russia's Lukoil signed an agreement Friday to work jointly on exploration and production activities. Pemex CEO Emilio Lozoya and Lukoil's chief executive, Vagit Alekperov, signed the agreement in Davos, Switzerland, the Mexico City-based company said in a statement. The deal, which establishes that the companies will share experiences and knowledge pertaining to oil exploration and production, will enable Pemex to "bolster its operating and technological capacity," the statement added.

Mexico's Pemex to start exporting Olmeca crude to Europe in February

Mexico City, Jan 24 (EFE).- Mexican state-owned oil company Petroleos Mexicanos says it will not begin exporting high-quality Olmeca crude to Europe until the second half of February. Pemex had said in a statement on Jan. 6 that exports of that extra-light variety would begin in January, but it announced Thursday on Twitter that the start date had been pushed back. The company added that the first shipment to Europe would be sent to the Cressier refinery in Switzerland.

Mexico's Pemex buys dormant fertilizer plant

Mexico City, Jan 17 (EFE).- Mexican state-owned oil company Petroleos Mexicanos announced the acquisition of fertilizer maker Agro Nitrogenados, owned by a subsidiary of steelmaker Altos Hornos de Mexico, and said it plans to restart the company's dormant plant in 2015. The project involves "investment of up to $475 million, including the purchase of existing assets, as well as the renovation and restart of the (company's) plant" in the Gulf coast state of Veracruz, Pemex said.

Mexico's Pemex signs technology-transfer accord with shipbuilders

Mexico City, Jan 15 (EFE).- Mexican state oil company Petroleos Mexicanos on Wednesday signed a technology-transfer agreement with four domestic shipbuilders and Spain's Barreras. Pemex said in a statement that the goal of the accord was "to share experiences with the aim of boosting the capabilities of Mexico's shipbuilders and auxiliary industry."
Syndicate content