Japan Banks on Mexican Oil
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Mexico
Posted March 9th, 2010 at 12:36 am
The Japan Bank for International Cooperation will lend $600 million to help Mexico's state-owned Petroleos Mexicanos (Pemex) develop oil and gas fields in the Chicontepec Basin, northeast of Mexico City.
Some of the gas produced there will be supplied to the thermal power stations of Mexican-based independent power producers owned by Japanese trading houses. read more
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Chicontepec field to rise to 40,000 barrels of oil per day
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Mexico
Posted December 10th, 2009 at 1:40 am
Mexico's state oil company Petroleos Mexicanos (PEMEX) expects production at its Chicontepec field to rise to 40,000 barrels per day (bpd) by the end of 2009, a Pemex official said Wednesday.
"It will be close to 40 (thousand bpd) by the end of this year," Jesus Puente Trevino, advisor to the general director of Pemex, told reporters on the sidelines of Deloitte's 2009 Oil & Gas Conference.
Chicontepec, which was producing 29,000 bpd in September, is a focus of long-term Pemex efforts to i...
Mexicos 2010 Budget Plan Sees 2.5MB/D Crude Output
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Oil
Posted August 11th, 2009 at 2:20 pm
Mexicos 2010 Budget Plan Sees 2.5MB/D Crude Output
Mexico’s oil production may fall 4.9 percent next year as the nation faces the greatest “fiscal shock” in 30 years, said Finance Minister Agustin Carstens told a Senate committee today.
Lower output is costing the nation as much as 300 billion pesos ($23.05 billion) in lost sales annually and may create a deficit in the federal budget next year, Carstens said. Oil revenue funded 38 percent of the government’s budget last year.
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The Mexican oil industry is in steep decline , But for how long?
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Oil
Posted January 21st, 2009 at 12:38 am
After declines, Mexico says oil Output to increase in 2011
The Mexican government said a recent downward trend in oil production will conclude between this year and next and that output in 2015 will total some 3 million barrels per day, not far off the country's all-time highs.
In an appearance before the Senate on Wednesday, Energy Minister Georgina Kessel said that, following recent energy sector reforms, state oil monopoly Petroleos Mexicanos will produce between 2.7-2.8 million bpd ...
