$1 billion guaranteed for projects in Mexico
The U.S. Export-Import Bank has approved $1 billion in long-term loan guarantees for U.S. companies providing equipment and services to Petróleos Mexicanos, Mexico’s state-owned oil company.
The three loans are for oil and natural gas exploration, development and production in Mexico, and they will involve nearly 300 U.S. companies, many of which are in Texas.
A $300 million loan guarantee will finance U.S. companies working on the Strategic Gas Program, which aims to help meet Mexico’s increasing demand for natural gas. Offshore Drilling Co. and Noble Mexico, both of Houston, and Sugar Land-based Noble Campeche are some of the U.S. companies involved in that project.
Another $300 million loan the bank guaranteed will support development of Mexico’s Cantarell oil field. Houston exporters involved in that project are Noble Drilling Services, Nabors International, Diamond Offshore Drilling and K-Mesco.
A $400 million loan guarantee also will help finance U.S. companies working on Mexico’s New Pidiregas Projects, consisting of natural gas and crude oil exploration sites near the Bay of Campeche off the northern coast of the Yucatan. Involved in that project are Noble Drilling Carmen Ltd. and Schlumberger Technology Corp., both of Sugar Land, and Noble Mexico Services, Halliburton Energy Services and BJ Services Co., all of Houston.
Source: chron.com
Mexico tycoon to donate for health projects
Mexican billionaire Carlos Slim, the worlds third-richest man, will give away a chunk of his fortune by matching donations to health, education and social programs in Mexico, a close aide said on Wednesday.
Slim, who owns a telecoms and retail empire and has a fortune estimated at over $30 billion, will meet all contributions dollar for dollar, said Arturo Elias Ayub, his spokesman and aide.
We want to offer Mexican or foreign foundations that we will match any amount they invest in social work in Mexico, Elias Ayub said. It was unclear how much
Mexico's foreign direct investment falls
Foreign direct investment in Mexico was US$7.46 billion (euro6.13 billion) in the first half of this year, the Economy Department said Friday.
The amount was below the US$10.29 billion (euro12.73 billion) reported in the like 2004 period, when the equity buyouts of local bank BBVA-Bancomer and cement company Holcim Apasco by their parent companies boosted investment.
By excluding those inflows from the comparison, FDI was 8.3 percent higher than in the first six months of 2004, the Economy Ministry said in a statement.
Of the US$7.46 billion in first-half FDI, US$2.12 billion (euro1.74 billion) was in new investment, $2.4
Mexico proven oil reserves dip to 16.470 bln bce
State oil monopoly Pemex said Thursday that Mexico's proven oil and gas reserves dipped to 16.470 billion barrels of crude oil equivalent (bce) at the end of 2005, down from 17.6 billion bce a year earlier.
Earlier this week Pemex, one of the main suppliers of oil to the United States, reported a slip in total oil and gas reserves to 46.418 billion bce at the end of 2005, down from 46.914 at the end of 2004.
Within that figure, probable reserves stood at 15.784 billion bce versus 15.8 billion a year earlier and
Iran probably win oil contracts in Mexico,Nigeria
Ahmad Azimi, managing director of Iranian Offshore Engineering and Construction Company (IOEC), said that his company would probably win two major offshore oil contracts in Mexico and Nigeria, MNA said.
He explained that the projects consisted of offshore pipe-laying or installing oil platforms. He added that the details of the projects would be announced after the negotiations are finalized.
Azimi put the value of Mexico offshore project at $500 mln, noting that the discussions on the Nigerian project are underway.
More: iranmania.com
Mexico Buys $2.88 Billion of Central Bank Reserves (Update3)
Mexico's government bought $2.88 billion of central bank international reserves that it will use to help meet payments on all foreign debt coming due in 2006 and 2007.
The funds, which the government acquired by selling pesos to the Banco de Mexico, combined with $1.89 billion the government has available from earlier foreign bond sales will cover the $4.77 billion of foreign debt maturing in the next two years, the Finance Ministry said in a statement. Finance Minister Francisco Gil Diaz said that the dollar purchase will allow Mexico's government to stay
Mexico and U.S. sharing giant eye on the sky
In the biggest Mexico-U.S. scientific venture ever, builders are finishing a huge telescope atop a volcano to let astronomers look back 13 billion years and uncover secrets of the creation of the universe.
President Vicente Fox and Mexico's scientific community have championed the telescope, the largest of its kind, saying the project shows how a developing country can play a major role in cutting-edge technology.
Most of the U.S. funding comes from the Defense Department, which worries some Mexicans who are leery of military connections with their powerful northern neighbor.
"We want Mexico to be
Mexico, Venezuela, Chile: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Chile {BCPCL }: Chile's jobless rate fell to a nine-month low of 7.6 percent in November, the government reported yesterday, on increased industrial production and seasonal agricultural employment. Industrial production expanded at a faster-than-expected 6.2 percent.
The yield on Chile's 8 percent bond maturing in June 2014 fell 4 basis points to 6.35 percent, according to JPMorgan Chase Chile. {CL0000000605 DES }
Mexico {MBONO }: Mexico's government releases
Mexico's Slim Urges Spending Up to $2 Bln on Mexico City Water
Mexico's Carlos Slim, Latin America's wealthiest businessman, said he's pushing for a combination of government and private investment to spend as much as $2 billion to ease Mexico City's water shortage.
Slim has a three-point plan to increase the supply of water in the Valley of Mexico by fixing leaky water pipelines, capturing rainwater in reservoirs and building water treatment plants, he said following an event on improving Mexico City's downtown area.
``This is where it makes sense for private investment to support these projects so they're not limited
Mexico Exports Rise 16% in June to $21.2 Bln on Autos (Correct)
Mexicos exports surged for a second month in June as sales of automobiles helped regain U.S. market share lost to China.
Exports climbed to $21.2 billion from $18.3 billion a year earlier, after reaching a record $22.71 billion in May, according to a Finance Ministry report. Mexico posted a trade deficit of $417 million in June, the report said. Imports rose 17.9 percent from a year earlier to $21.7 billion.
Source : bloomberg.com
Mexico seeks bids for infrastructure
Private contracts are for hospitals, schools and roads
Mexico will seek bids from private companies for contracts worth as much as $3.7 billion to build and run hospitals and schools and to upgrade toll-free roads, according to presidential adviser Eduardo Sojo.
The plan, which includes eight hospitals, four polytechnic schools and 12 toll-free roads, would be the biggest initiative yet in Latin America to have private companies invest in infrastructure and provide public services in exchange for a fee paid by the government. All projects will be awarded by the end of President Vicente Fox's term in December
