Mexico’s state-run oil company resumes production
Mexico’s state-run oil firm PEMEX has resumed its production in the country’s top petroleum-producing area of Sonda de Campeche after being shut down from Sunday to Tuesday when hurricane Emily passed through the Gulf of Mexico.
The company said in a statement on Friday that the hurricane, which has killed one person, destroyed thousands of buildings and drove 90,000 people from their homes, did not cause significant damage to its sea and land infrastructure.
Activities on the oil rigs of Faja de Oro, Lankahuasa and Arenque “have completely resumed,” it said.
Nearly 80 percent of crude production in Mexico comes from Sonda de Campeche, in southeast of the country, where over 15,000 people working on rigs were evacuated on Saturday and Sunday.
PEMEX also has gas-processing complexes in Burgos and Reynosa,and a petro-chemical plant in Reynosa, Tamaulipas state, which were also hit by the hurricane.
More: news.xinhuanet.com
UPDATE 2-Mexico's Pemex resumes full production after Emily
Mexico resumed its full production of crude oil on Friday by bringing its wells in the Gulf of Mexico back on tap after they were closed by a powerful hurricane, state oil monopoly Pemex said.
Pemex slashed output and halted exports as Hurricane Emily pounded the Yucatan Peninsula and then moved into the Gulf of Mexico earlier this week.
The storm shut down 2.95 million barrels of day of crude oil as well as 1.87 million bpd of exports, the bulk of them to the United States.
Pemex typically produces about 3.4 million bpd of crude,
Mexico oil output to decline, analysts say
Mexicos oil output will probably decline in the next two years if the country doesnt allow foreign investment to boost drilling, according to Raymond James & Associates.
Production in Mexico may have peaked in 2004, analysts J. Marshall Adkins and Pavel Molchanov wrote in a July 10 report, because the 30-year-old Cantarell field, the worlds second-largest, has reached maximum output, they said. Petróleos Mexicanos, the state oil company, said Aug. 2 that Cantarell production will decline 8 percent this year.
The countrys oil production looks like it already might have peaked -- quite possibly for good,
Discount pharmacy chain grows in Mexico Owner also subsidizes clinics, and he wants to run for president
Victor Gonzalez sells cheap medicine and health care to Mexico's poor, and it has made him very rich.
In eight years, his chain of Farmacias Similares, or Similar Pharmacies, has grown from a single store in Mexico City to 3,239 across Mexico and is spreading throughout Central America, as well as parts of South America.
His catchy advertising - a cartoon doctor and an army of scantily clad models - has helped make Gonzalez, 58, a household name. His slogan is "The Same, Only Cheaper."
Now, Gonzalez
Official: Mexico Spending on Exploration Up
Mexico's state-run oil monopoly will spend more than 137 billion pesos (US$13 billion, euro10.5 billion) on oil exploration, extraction and production this year - but its outdated infrastructure system remains a serious liability, a presidential spokesman said Friday.
Ruben Aguilar said state-run oil company Petroleos Mexicanos' 2005 budget for recovering and readying new oil for the market represents more than double the amount spent on those activities five years ago.
In 2004, Pemex's daily production was nearly 3.4 million barrels of crude oil, the highest in Mexican history, Aguilar said. Carlos Morales, head of exploration
US resumes repatriation flights for illegal immigrants from Mexico
The US Department of Homeland Security [official website] resumed its repatriation program [JURIST report; DHS backgrounder] for illegal immigrants from Mexico Friday with a flight carrying 67 people to Mexico City. This is the third straight summer that the federal government has used the program, which twice daily flies Mexicans caught illegally crossing the US-Mexico border to Mexico City and then buses them to their home communities. It specifically targets women, children, and those deemed at physical risk if they tried to cross the border again.
The US government hopes that the
Newfield Reports on Resumption of Gulf of Mexico Production Following '05 Storms
Newfield Exploration Company (NYSE: NFX - News) today provided a progress report on the resumption of its production in the Gulf of Mexico following 2005 storms and hurricanes. Newfield estimates that the storms will result in the deferral of approximately 22 billion cubic feet equivalent (Bcfe) of anticipated 2005 production. As a result, Newfield now expects that full-year 2005 production will total approximately 242 Bcfe.
David A. Trice, Newfield Chairman, President and CEO, commented: "Recovery from Hurricane Rita has been much slower than we originally projected with most of the
Grupo Mexico Shuts San Martin Mine as Strike Lingers
Grupo Mexico closed its San Martin zinc mine because of a strike that has halted production since March, signaling labor disputes that have crimped world metal supplies wont end soon.
Its impossible to even hope that this is going to be resolved, spokesman Juan Rebolledo said in a television interview on TV Azteca. Thats why we closed it.
Lost production from San Martin and Grupo Mexicos La Caridad mine helped push copper to record prices on the London Metal Exchange this year, as some analysts forecast 2006 production will lag behind
Reuters Summit-Mexico's Pemex sees output flat to 2007
Mexican state oil monopoly Pemex sees crude oil production staying roughly flat this year and next, Chief Financial Officer Juan Jose Suarez said Friday.
Suarez said he saw Pemex's 2007 crude oil output averaging 3.45 million barrels per day, up only a whisker from estimated average production of 3.42 million bpd this year.
"It should be around 3.45 million," he told the Reuters Latin America Investment Summit in Mexico City.
Pemex, one of the top three suppliers of crude oil to the United States, saw its oil production dip to 3.33 million bpd in 2005, partly
BHP Billiton says Gulf of Mexico production remains shut
Australia's BHP Billiton Ltd. (BHP) said Wednesday that oil production at its Gulf of Mexico rigs is still shut after hurricane Katrina caused devastation in the area.
There is little damage to BHP's facilities, but the disruption at refineries means production will be stopped for much longer than previously thought, a BHP spokeswoman said.
She said the company doesn't know how long.
Last week, BHP said it expected oil production to be shut off for a couple of days, after it evacuated crews and moved its rigs in preparation for the hurricane.
Mexicos August auto production up 19.5% to 179,527 units
Mexico auto production and exports continued to grow at a solid pace in August, while domestic sales were little changed from the year-ago month, the Mexican Auto Industry Association, or AMIA, said Monday.
AMIA said production last month rose 19.5% from August 2005 to 179,527 units. Exports jumped 38.2% to 136,114 units, and domestic sales edged up 0.3% to 90,936 units.
The recovery in the Mexican auto industry, the countrys biggest single manufacturing sector, contributed significantly to the 5.4% year-on-year increase in manufacturing in the first half of the year.
Source : marketwatch.com
