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	Pemex - Wikipedia, the free encyclopedia
		PEMEX is the sole supplier of all commercial gasoline (petrol/diesel) stations in Mexico.
		The authors noted that between January 21, 1999 and March 29, 2000, the mean spread on the 7 year bonds issued by PEMEX, the state-owned oil company, was 309 basis points, with a standard deviation of 63.
		PEMEX, despite its current $77 billion in revenue, pays high taxes that contribute with a large portion of the budget of the federal government.
	en.wikipedia.org /wiki/PEMEX (758 words)

	To workers, Pemex plan is a betrayal
		Of Pemex's 73,000 unionized workers, at least 20,000 work at petrochemical plants, and that doesn't count about as many white-collar employees or retired Pemex workers who would be affected by the sale, according to Pemex union spokesman Victor Manuel Garcia.
		The problem, he said, is that Pemex has been used as a cash cow by successive administrations and doesn't have the money to invest in exploring for oil, upgrading petrochemical plants or anything else.
		But for Orozco, Garcia Vizcarra and thousands of other Pemex workers, recapitalization and bond repayment aren't as important as the cold reality of making a living in a country where unemployment has doubled in the last year, and the peso is worth only half of what it was worth a year ago.
	www.chron.com /content/chronicle/business/95/12/26/pemex.html (2129 words)

	Mexico's Pemex in a corner after oil find boast \| EnergyBulletin.net \| Peak Oil News Clearinghouse
		Pemex has turned more circumspect since Ramirez's comments created waves on Monday, saying only that a "significant potential had been recognized" in deep waters of the Gulf of Mexico and stressing it had not altered its reserves data.
		Pemex has also declined to comment on an unsourced newspaper report saying a deep-sea technology accord was in the works with oil giant Royal Dutch/Shell and is refusing any interviews on the subject.
		Pemex, which lacks both the technology and the funds to drill down to depths of 2 km (1.3 miles) or more, has been talking to oil majors like Shell, ExxonMobil, BP, Total, Unocal Corp, Statoil and Petrobras, industry sources say.
	www.energybulletin.net /2028.html (722 words)

	[No title]
		However, Pemex said it was pleased with the level of interest in the first round, and that it would hold a second round in 2004.
		Pemex has acknowledged that much of the first-round bidding may have been strategic, designed to position the bidders for work in more lucrative areas later.
		Pemex said it simplified the basic MSC contracts and modified the bid process to encourage more participation by Mexican firms, an action called for by its critics.
	www.aapg.org /explorer/2004/10oct/mexico.cfm (1618 words)

	Mexico's Cantarell field decline deferred to 2006 \| EnergyBulletin.net \| Peak Oil News Clearinghouse
		Pemex formally inaugurated Thursday a new offshore gas compression plant and a new gas processing plant in the Akal complex in Cantarell, Pemex's largest oil field.
		Luis Ramirez Corzo, who heads Pemex's exploration and production division, said the two new platforms will obviate the need to send 900 million cubic feet a day of natural gas ashore for processing, only to be sent back as fuel for offshore operations and for re-injection into the deposits.
		Pemex raised output at Cantarell with a $10.5 billion, 15-year project begun in 1997 under which it is injecting 1.2 billion cubic feet a day of compressed nitrogen into the deposit to reverse pressure loss.
	www.energybulletin.net /1650.html (402 words)

	CorpWatch : MEXICO: Pemex Accidents Reveal Troubled Oil Monopoly (Site not responding. Last check: 2007-09-17)
		Pemex provides the government with 40 percent of its income, and the environmental agency charged with policing the oil company is woefully underfinanced.
		Pemex officials complain that the government mainly uses the oil industry to finance the rest of its spending and puts too little money into infrastructure and maintenance.
		Pemex officials have tried to divert blame, saying the subcontractor cut into the wrong pipe after a supervising engineer left to check on the location of the right one.
	www.corpwatch.org /article.php?id=12265 (1538 words)

	Boston.com / Business / Pemex makes deep-water oil discovery
		Pemex contracted Diamond Offshore Drilling (DO) to drill the well at a depth of 681 meters (2,230 feet), which produced an initial flow of 1,200 barrels a day.
		Pemex estimated that original volume in the deposit could exceed 200 million barrels of crude equivalent, and it said proven, probable and possible reserves are in the process of being evaluated.
		Pemex has seen its reserves decline in recent years, and company officials say that they need to form alliances with foreign oil companies to tackle potential in deep waters of the Gulf of Mexico.
	www.boston.com /business/articles/2004/11/24/pemex_makes_deep_water_oil_discovery?mode=PF (399 words)

	HUMAN EVENTS ONLINE - Whither PEMEX? by Allan Wall
		PEMEX service stations, with their familiar green signs, dispense gasoline nationwide to the captive Mexican consumer.
		The principal contradiction for PEMEX is having to function as both an oil company and a government bureaucracy.
		PEMEX is prohibited from partnering with foreign companies within Mexico, but not abroad.
	www.humaneventsonline.com /article.php?id=3942 (795 words)

	Boston.com / Business / Pemex seeks exploration spending increase
		Pemex is developing nearby fields in an effort to compensate for Cantarell's decline, Morales said, adding that the company may need to boost investment in coming years to realize the full potential of other deposits.
		Despite Pemex's massive deposits and high output, maintaining or boosting investment is complicated by the company's status as a state entity.
		Pemex's budget, which this year is nearly $10 billion, is also included in the federal budget.
	www.boston.com /business/articles/2005/04/13/pemex_seeks_exploration_spending_increase?mode=PF (313 words)

	Alexander's Gas & Oil Connections - Pemex: Taming the untamable, Part I
		Pemex Gas and Basic Petrochemicals (PGBP) processes natural gas and natural gas liquids (NGLs), transports, distributes and sells natural gas and LPG throughout Mexico and produces and sells several basic petrochemical feedstocks.
		Pemex Petrochemicals manufactures different petrochemical products, including: (1) methane derivatives, such as ammonia and methanol; (2) ethane, such as polyethylenes, as well as other olefins; (3) aromatics and their derivatives; (4) propylene and its derivatives; and (5) oxygen, nitrogen and other products.
		Pemex does this by entering into long-term Maya crude oil supply agreements pursuant to which purchasers agree to undertake projects to expand the capacity of their respective refineries to upgrade residue from Maya crude oil.
	www.gasandoil.com /goc/company/cnl42486.htm (2734 words)

	Planet Ark : Angry fisherman block Mexico Pemex's Oaxaca refinery
		A spokesman for Pemex told Reuters that exports of crude oil out of the Salina Cruz port were not affected because shipments at the port are fed by a pipeline.
		Pemex said that although it had nothing to do with the fuel leak, and though a government environmental agency has determined that damage from the leak was minimal, it is willing to negotiate payment of damages to the fisherman.
		Pemex said officials were meeting on Tuesday to implement emergency plans to protect its facilities and workers.
	www.planetark.org /dailynewsstory.cfm/newsid/17181/story.htm (454 words)

	VDARE.com: 05/20/03 - Mexican Politicians Worry About National Interest —Unlike, Say, Dennis Hastert
		They indignantly emphasized that PEMEX is not negotiable.
		PEMEX is forbidden to have private partners in Mexican territory, but not abroad--which causes bizarre anomalies like the export of Mexican crude to Houston, Texas, where it is refined at a Shell-PEMEX refinery and re-imported to Mexico!
		PEMEX itself was formed back in 1938 as a response to foreign oil investment.
	www.vdare.com /awall/pemex.htm (1013 words)

	Hydrocarbons Technology - Salamanca Refinery Mexico
		Pemex Refinacion, a subsidiary of Petroleos Mexicanos, Mexico's national oil company, is the centre of the project.
		The overall reconfiguration projects announced by Pemex involve Salamanca as well as four other refineries in Mexico, and are expected by the company to require an investment in the range of $5-$7 billion over the extended course of three to four years.
		Pemex is the world's sixth largest oil company and the single most important entity in the Mexican economy.
	www.hydrocarbons-technology.com /projects/Salamanca (483 words)

	Pemex sells Latin America's biggest corporate bond
		Pemex received bids of about $5 billion for the bonds, underscoring how a rally in U.S. Treasury bonds has driven investors throughout the world to seek out higher returns in securities such as emerging-market debt.
		Pemex targeted Asian investors and managed to sell about 65 percent of the bonds to them, said Jack Gunn, Merrill Lynch's head of debt syndication for Asia Pacific.
		Pemex's foreign bonds are rated Baa1 by Moody's Investors Service, the third-lowest investment grade, and BBB- by Standard and Poor's, the lowest investment grade rating.
	www.globalmanufacture.net /home/news/bond.cfm (502 words)

	RIGZONE - Pemex Discovered 7 Oil & Gas Fields in 2005
		Pemex's Pit 1 field in the eastern Campeche area is producing 2,200 barrels of heavy crude a day initially, while the Ichalkil-1 field is producing 1,800b/d of light crude, according to the report.
		Meanwhile, Pemex's Niquel-1, Antiguo-8 and Caravana-1 fields in the Burgos basin are producing 3.8 million cubic feet a day (Mf3/d), 4.3 Mf3/d and 4.7Mf3/d respectively of unassociated natural gas, the report said.
		Pemex expects oil production from its Cantarell field, its largest oil field, will fall 6% to 1.91 million barrels a day in 2006 compared to 2005 and will keep falling to 1.68Mb/d in 2007 and 1.43M/d in 2008, depending on whether it receives the required investment amounts, the report said.
	www.rigzone.com /news/article.asp?a_id=29976 (332 words)

	Mismanagement and Corruption At Pemex (Site not responding. Last check: 2007-09-17)
		Pemex, Mexico's state-run petroleum monopoly, is a classic example of why governments shouldn't run businesses, many observers say.
		One Pemex official has estimated as much as 15,000 barrels of fuel are stolen daily through clandestine taps.
		But many observers suspect the real reason is that Pemex quietly funnels millions of pesos a year to those same defenders of the status quo.
	www.ncpa.org /pi/internat/pdinter/may98l.html (279 words)

	Bloomberg.com: Energy (Site not responding. Last check: 2007-09-17)
		Last year, Pemex exported 1.82 million barrels per day, most of it to the U.S. ``Parallel to the decline of Cantarell, which is a fact, we are exploring and drilling new fields that will replace this capacity,'' Canales said in an interview in Houston.
		Pemex is running into heavier crude in that field, making it more complicated and expensive to extract, Padilla said.
		Pemex's forecast for a 6 percent decline in the field's production this year is based on a 52 percent recovery rate, which would put Cantarell's output at more than double the worst-case scenario at the end of 2008, Shields said.
	www.bloomberg.com /apps/news?pid=10001099&sid=aE3TFiYOjLHU&refer=energy (434 words)

	Hispanic American Center for Economic Research - Mexico's Corrupt Oil Lifeline
		Pemex's last director, Rogelio Montemayor, a former PRI governor, and its union boss, Carlos Romero Deschamps, a PRI senator, each stand accused of stealing tens of millions of dollars from Pemex for the PRI's 2000 presidential campaign against Mr.
		Pemex remains one of the world's few national oil companies with no competition from within or without.
		Pemex had sales of $46.5 billion in 2001 and paid $28.8 billion in taxes - almost 40 percent of all government revenues.
	www.hacer.org /current/MexicoPemex.php (1838 words)

	Pemex-PE Portrait Gallery (Site not responding. Last check: 2007-09-17)
		Personal Mine Explorer (Pemex) BE is a two-wheeled robot built to investigate cross-country navigation and to evaluate sensors for the detection of anti-personnel mines.
		Pemex-BE can be teleoperated or can explore autonomously.
		This allows it to operate in environments such as rice paddies and, on land, reduces the pressure on the ground when searching for very sensitive pressure-triggered mines.
	www.fourmilab.ch /minerats/figures/pemex.html (229 words)

	Plan to privatize Pemex still political flash point (Site not responding. Last check: 2007-09-17)
		The petrochemical division of Pemex was seen as the crown jewel of the privatization frenzy.
		Salinas later split Pemex into separate divisions and classified which were of "strategic" importance to the nation and which could be sold.
		Opposition to Pemex's sale has solidified since Salinas' fall from grace -- he is widely blamed for the country's current economic crisis, which began three weeks after he left office in December 1994 --and amid the political turmoil surrounding President Ernesto Zedillo.
	www.chron.com /content/chronicle/world/96/07/14/mexicopolitics.html (857 words)

	RIGZONE - Weekly Offshore Rig Review: Pemex Goes Deep
		Currently, Pemex employs 7 semisubs with rated water depths ranging from 1,000 to 3,500 feet, along with a fleet of 27 jackups rigs.
		As Pemex's demand for these rigs increases with its deepwater exploration, day rates for these rigs are likely to increase, just as day rates for jackups in Mexican waters have increased over the last year from $40,000 a year ago to $54,000 today.
		Pemex's semisub demand will likely grow over the next 2 years as it drills delineation wells in the Deep Coatzacoalcos field and tries to make further discoveries of deepwater fields, particularly in its northern GOM waters along the nautical border with the United States where potential for large discoveries still remains.
	www.rigzone.com /news/article.asp?a_id=30623 (942 words)

	Bloomberg.com: Latin America (Site not responding. Last check: 2007-09-17)
		Pemex had so little capital to invest when Munoz Leos joined the company that it was facing the need to import oil as early as 2006.
		``Pemex is a symbol for the nation,'' says Jonathan Brown, 61, a history professor at the University of Texas at Austin and author of ``Oil and Revolution in Mexico'' (University of California Press, 1993).
		Pemex's failure to invest in exploration and new technology for refineries and offshore drilling means it's a quarter century behind major producers, Munoz Leos says.
	quote.bloomberg.com /apps/news?pid=10000086&sid=aiCGRvgY.Gcw&refer=latin_america (3519 words)

	Wanted and unwanted changes in Mexico's PEMEX (Site not responding. Last check: 2007-09-17)
		This is a move forward for Pemex, a first step towards having a reasonable tax rate that will leave money to carryout maintenance on facilities and installations, and possibly to invest in new equipment and needs.
		The aim of the ersatz “management autonomy” is to move Pemex out of the public sector.
		This rather than trying to change the intrinsic structure of Pemex, which would once again provoke confrontations with the PRI and the Oil Workers’ Union – and of course new standstills in Mexico’s energy sector development.
	www.mexidata.info /id691.html (753 words)

	Past Catches Up With Mexico's Oil Monopoly (washingtonpost.com)
		It was the latest in a string of Pemex accidents throughout the country and has touched off a national debate about the global oil giant that is Mexico's largest source of revenue.
		Pemex's operating budget is subject to congressional approval, and for generations Mexico's leaders have been reluctant to reinvest Pemex's earnings in expensive maintenance and modernization projects, preferring to use the money for roads, schools and other urgently needed, politically popular projects.
		Pemex, which had sales of more than $55 billion in 2003, has been Mexico's economic engine for decades, providing about a third of the revenue the government spends each year.
	www.washingtonpost.com /wp-dyn/articles/A16500-2005Jan17.html (897 words)

	Running dry: Pemex, Mexico's national oil company, faces dwindling reserves, mounting debt and resistance to reforms ...
		Pemex's oil reserves have dropped for 22 straight years because the company is pumping faster than it can explore.
		Pemex has remained still," said Munoz Leos, seated in a library on the 44th floor of Pemex headquarters.
		In 2003, Mexico took 60 percent of Pemex's 626.1 billion pesos ($56.3 billion) in revenue to fund about a third of the federal budget.
	www.findarticles.com /p/articles/mi_m5072/is_19_26/ai_n6045652 (465 words)

	Mexico Foreign Direct Investment (Site not responding. Last check: 2007-09-17)
		In the first nine months of 2004, Pemex posted a relatively smaller loss of $1.3 billion, as higher oil prices meant much higher revenues, even as a larger percentage was taxed.
		On November 4, 2004, Pemex CFO Juan Jos Su rez announced an investment budget of $11.2 billion for 2005, of which 85% would be spent on production and exploration.
		Pemex would be able to keep one-third of excess export revenues and one-half of other excess federal revenues under the proposal, and new projects would be taxed differently from existing projects.
	nowodus.tripod.com /mexico/foreign-direct-investment.html (1210 words)

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