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Latam countries launch plan to store carbon, fight global warming

On Sunday, eight Latin American countries announced an initiative to cut emissions that cause global warming. The initiative involves restoration of 20 million hectares of forest and farmland in order to use the land to store carbon in natural vegetation. The eight countries involved are Argentina, Columbia, Chile, Costa Rica, Ecuador, Guatemala, Mexico and Peru….

Mexico’s Pemex to boost fuel output by nearly 70 pct at Tula refinery

Pemex announced on Wednesday its plans to boost gasoline diesel output by almost 70 percent at the Miguel Hidalgo refinery. This boost will result from a $4.25 billion upgrade that is expected to be completed by the beginning of 2018. by David Alire Garcia, Reuters, December 3, 2014 Dec 3 (Reuters) – Mexico’s state-owned oil company…

Alfa to Team Up With Pacific Rubiales on Mexico Energy Projects

Alfa SA B reached an agreement with Canada’s Pacific Rubiales Energy Corp. to bid in Mexico’s first round of oil and gas blocks and to pursue other energy projects in the country. Each partner will hold a 50 percent stake in the venture. by Anthony Harrup, The Wall Street Journal, December 4, 2014 MEXICO CITY—Mexican conglomerate…

Oil price drop hits Latin America

Oil price drop hits Latin America

While Mexico and Venezuela must open up their oil sectors to outside investment, Brazil needs technology and financing for its offshore reserves in the Atlantic Ocean. Venezuela is desperate due to the effects of the slump in oil prices and their failed attempt to convince OPEC to trim production. by Paul Welitzkin, China Daily, December 1,…

Mexico announces round one potential output, investment

Quarter one of 2015 will have Mexico’s round one of tenders for oil extraction. The country will put 19.945 Bboe up for grabs. It is expected that $50.5 billion will be received in investment in the blocks over the next four years. by BN Americas, November 28, 2014 Mexico’s round one of tenders for oil…

Pemex to process less oil in 2015 due to refinery maintenance

Pemex refineries will process 4 percent less crude oil in 2015 due to refinery maintenance. This decrease in process may require Pemex to import more gasoline and diesel in order to fulfill the demand that is rising as the economy grows. The maintenance will be on five dozen major units at six different refineries. by David…

Etileno XXI plant could revive Mexico’s petrochemical sector

The Etileno XXI petrochemical plant being built in Mexico will produce 1.05 Mt/y of polyethylene to be sold on the Mexican market. This plant will cut Mexico’s polyethylene imports by 35-40%. by Adam Critchley, BN Americas, November 25, 2014 The Etileno XXI petrochemical plant being built in Mexico by the Braskem and Idesa consortium will be…

Renewables investment in Mexico reaches US$11bn since 2003

Since 2003, Mexico’s renewable energy sector received $11 billion in direct foreign investment. Investments have mainly been from Spain, Germany and the United States. Mexico is currently ranked eighth globally in renewable energy investment. by Adam Critchley, BN Americas, November 19, 2014 Mexico’s renewable energy sector received US$11bn in direct foreign investment during the 2003-13 decade,…

Mexico’s Pemex approves post-reform corporate revamp

Pemex has finalized a corporate restructuring, including the creation of new business units that will focus on fertilizers and ethylene. The company will maintain its money-making exploration and production division and consolidate poorer performers focused on natural gas, refining and petrochemicals into a single entity called Industrial Transformation. by David Alire Garcia, Reuters, November 18, 2014…

China to invest up billions in Mexico energy sector

A $14 billion investment in Mexico’s energy, mining, infrastructure, telecom and tourism sectors has been created with 14 cooperation agreements signed between Mexico and China. The agreements were made during Mexican President Enrique Peña Nieto’s visit to China to attend the APEC summit. by Utility Products, November 14, 2014 Mexico and China have signed 14…

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Site Last Modified: December 18, 2014