MEXICO CITY (Reuters) – Mexican mining and railroad company Grupo Mexico expects to invest $1 billion in new oil projects over five years from a mix of contracts and joint ventures with national oil firm Pemex [PEMX.UL], a top executive said on Tuesday.
Ricardo Arce, head of Grupo Mexico’s oil drilling unit, said in an interview he sees crude output from the ventures reaching as much as 100,000 barrels per day over the next decade.
MEXICO CITY, Oct 20 (Reuters) – Mexican mining and railroad
company Grupo Mexico expects to invest $1 billion
in new oil projects over five years from a mix of contracts and
joint ventures with national oil firm Pemex, a top
executive said on Tuesday.
Ricardo Arce, head of Grupo Mexico’s oil drilling unit, said
in an interview he sees crude output from the ventures reaching
as much as 100,000 barrels per day over the next decade.
MEXICO CITY (Reuters) – Mexico may succeed in bringing oil production only back to where it was three years ago by the time the current administration ends in 2018 despite a major reform to open up the industry, a senior government official said on Wednesday.
In December 2012, the month President Enrique Pena Nieto took office, Mexican crude output was 2.56 million barrels per day (bpd), well down from peak production of nearly 3.4 million bpd in 2004. By this August, it had fallen to 2.25 million bpd.
MEXICO CITY, Sept 30 (Reuters) – Mexico awarded three out of
five production-sharing contracts on Wednesday in the second
phase of its historic oil sector opening, comfortably beating
the disappointing results of the first phase and giving a boost
to the peso.
The auctions, part of a series aimed at reversing years of
falling oil output, this time met the oil regulator’s
expectations and awarded potentially lucrative contracts to
Italian energy group Eni and two consortiums.
MEXICO CITY, Sept 24 (Reuters) – Mexico is studying the
possibility of adding two new reactors to the country’s only
nuclear power plant and could decide next year whether to seek
permits to build them, a top energy ministry official said.
Cesar Hernandez, deputy energy minister for electricity,
told Reuters that studies under review by officials show “the
potential to add a pair of reactors” to Mexico’s Laguna Verde
nuclear power plant in eastern Veracruz state.
MEXICO CITY, July 15 (Reuters) – Mexico auctioned only two
of the first seven blocks in its initial offshore oil and gas
tender on Wednesday, half of the oil fields up for grabs as part
of a historic opening of the long-nationalized industry.
Both of the shallow water exploration and production
contracts were awarded to the same consortium made up of Sierra
Oil & Gas, Premier Oil and Talos Energy.
MEXICO CITY (Reuters) – Mexico expects a finalized 12-nation Pacific trade deal to double the country’s agricultural exports to Japan’s mostly closed market, and the deal will likely be signed in the “next few weeks,” a senior trade official said on Friday.
The so-called Trans-Pacific Partnership, or TPP, would potentially cover 40 percent of the world economy and raise annual global economic output by nearly $300 billion.
MEXICO CITY, May 29 (Reuters) – Mexico’s oil regulator voted
on Friday to relax previously established rules on bidding terms
and contracts that form the first step in an historic sector
opening that kicks off this summer with the public auction of 14
shallow water fields.
The July auction will mark the first of five packages of oil
fields up for grabs, part of a so-called Round One tender that
follows a major energy reform approved by Congress last year.
MEXICO CITY, May 12 (Reuters) – The next round of contracts
in Mexico’s opening of its oil and natural gas industry should
bring in about $620 million in investment in the first five
years, Energy Minister Pedro Joaquin Coldwell said on Tuesday.
The 26 onshore oil and gas areas to be tendered are spread
across five states and are believed to contain 2.5 billion
barrels of oil equivalent in remaining resources.
MEXICO CITY (Reuters) – Mexico, the biggest buyer of U.S. chicken, has halted imports of live birds and eggs from the U.S. state of Iowa due to an outbreak of deadly bird flu there, the Mexican government said on Tuesday.
Mexico and other major countries last month imposed new export restrictions on poultry products from various U.S. states, but a new outbreak has hit top U.S. egg-producing state Iowa.