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Pemex News


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…

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…

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…

Mexico’s Pemex Considers Sukuk Sale to Lure Muslim Investors

Pemex is considering the sale of the Islamic-compliant bonds known as sukuk. A date and amount has yet to be set, but it will be the first sukuk out of Latin America. by Isabella Cota, Bloomberg News, November 14, 2014 Petroleos Mexicanos is considering a sale of the Islamic-compliant bonds known as sukuk, courting Muslim investors…

Mexico’s Pemex inks $10 bln credit line with China’s ICBC for oil projects

Pemex has created a line of credit with Chinese bank ICBC. The credit line will be used for exploration and production projects as well as offshore acquisitions. by David Alire Garcia, Reuters, November 13, 2014 Nov 13 (Reuters) – Mexico’s state-owned oil company Pemex has inked an initial line of credit for exploration and production projects…

Pemex plan for a $6 billion LNG export terminal faces skepticism

Pemex’s plan to build a $6-billion natural gas liquefaction plant at Salina Cruz is being met with skepticism. Analyst argue that Pemex lacks a track record for a comparable operation, and that there isn’t enough gas in Mexico. by Ronald Buchanan, Platts, November 10, 2014 A plan by Mexican state-owned Pemex to build a $6-billion natural…

Pemex Looks to Develop Natural Gas Export Terminal

Pemex has announced it wants to develop a liquefied natural gas export terminal on the Pacific coast of Oaxaca, and is seeking private investment to help with costs. This is an effort to help expand the country’s energy sector following the energy reform. by Alison Sider, Wall Street Journal, November 5, 2014 Mexico’s state-owned energy company,…

Pemex to become Mexico’s No. 2 power generator

Pemex plans to convert oil-fired plants to natural gas. By doing so, the company will become Mexico’s second largest electricity generator behind State utility CFE. This change is expected to happen within the next three or four years. by Adam Critchley, BN Americas, November 6,2014 Pemex will become Mexico’s second largest electricity generator once oil-fired plants…

Pemex to build Pacific coast liquefaction plant

In an effort to transform from an LNG importer to an LNG exporter, Pemex announced its plans to develop a $6 billion liquefaction project on the Pacific coast. This plan goes along with US Sempra’s liquefaction plant at Costa Azul in California. Both projects are mainly targeted toward the Asia-Pacific LNG market. by Argus, November…

Pemex signs oil cooperation agreement with Italy’s ENI

Mexico’s Pemex signed a memorandum of understanding on Thursday with Italy’s ENI. The agreement will allow for join development of sustainable practices and efforts to take action to reduce emissions of pollutants. The agreement will also allow for training and apprenticeship programs to help both companies meet their need for “highly specialized human capital.” by…

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Site Last Modified: December 9, 2014