energy-featured
Union workers at Pemex get 4.9% wage hike
Sentido Comun - Unionized workers at Petroleos Mexicanos, the state oil monopoly, agreed to a wage increase of 4.9 percent plus 0.4 percent in performance bonuses. The company and union also signed an agreement that commits workers to a new level of productivity.
www.sentidocomun.com.mx/breves.phtml
Pemex posts net loss of $1.57 billion
Dow Jones - Mexico's state-owned oil company, Petroleos Mexicanos, or Pemex, said Wednesday it posted a second-quarter net loss of 20.1 billion pesos ($1.57 billion) versus a net profit of 1.2 billion pesos in the year-ago quarter, attributing the swing to an appreciation in the value of the Mexican currency versus the U.S. dollar.
Pemex to seek 54% larger budget in 2011
El Economista - Pemex will request a budget that is estimated to be 54 percent more for the fiscal year of 2011 -- a total of 400 billion pesos ($30.96 billion) in order to improve production and replacement of Mexico's crude oil reserves.
eleconomista.com.mx/industrias/2010/07/18/pemex-va-mas-presupuesto
Internaitonal reserves grow to $101.5 billion
El Financiero - The international reserves of Mexico continued growing, extending the amount beyond $100 billion. Between the June 28 and July 2, the international reserves increased by $1.185 billion to $101.54 billion on a Pemex sale to the Bank of Mexico.
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
Sempra says order revoking LNG permits voided
Mexbiznews.com - Sempra LNG, a subsidiary of Sempra Energy, today reported that a Mexican federal appeals court has revoked a June 17 district court order that had directed Mexican regulatory agencies to suspend authorizations for the operations of Sempra LNG’s liquefied natural gas (LNG) terminal near Ensenada. A hearing by the district judge on the terminal's permits is now scheduled for July 6.
Pemex chief admits cartels disrupting operations
Milenio.com - Juan Jose Suarez Coppel, the director of Petroleos Mexicanos, or Pemex, admitted that drug trafficking organizations have become an obstacle in operating the company in the north of the country but said that the current effort of the Mexican Army will help to solve the problem.
www.milenio.com/node/472787
Sempra says it will keep Baja LNG plant operating
Reuters - Sempra Energy will keep its Costa Azul liquefied natural gas terminal in Mexico running unless it is told to suspend operations by the government, a spokeswoman for the San Diego-based company said, adding that she expects the Mexican government to overturn a court order to suspend operations as the result of a land dispute.
Pemex says deep-water drilling will continue
El Universal - Petroleos Mexicanos (Pemex) will continue the drilling in the deepwater Gulf of Mexico in 2010 despite BP's crude oil spill in the Gulf of Mexico near the U.S. mainland. The firm said the need to sustain Mexico's output will lead to more drilling in the Gulf.
IFC arranges financing for Accion's wind farm
Dow Jones - The International Finance Corp. said Wednesday it has arranged $375 million in financing for Acciona Energia's giant wind farm in southern Mexico. The $600 million, 250-megawatt Eurus wind farm located in Oaxaca is the largest of its kind in Latin America.
Pemex board approves five-year plan
El Financiero - The board of directors of Petroleos Mexicanos (Pemex) on Tuesday approved the business plan of the parastatal and subsidiary bodies that will provide the main projections of the company over a period of five years.
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
