Energy
Officials tackle climate change and finances
VoANews.com - Ministers from 45 countries are meeting to discuss the financing of mitigation and adaptation measures needed to tackle climate change. The two-day meeting, hosted by Switzerland and Mexico, hopes to come up with a plan to advance climate negotiations at the forthcoming talks in Cancun in December.
www.voanews.com/english/news/europe/Money-Key-To-Tackling-Climate-Change-102071958.html
August crude oil production slips from July
Dow Jones - Crude-oil output by Mexico's state-owned oil company Petroleos Mexicanos declined slightly in August to average 2.556 million barrels a day from July's 2.573 million barrels a day, according to preliminary results posted on the company's website.
Electricians pact with LyFC is terminated
Milenio.com.mx - The Federal Board of Conciliation and Arbitration notified the Mexican Electricians Union (SME) that its labor relations and collective bargaining agreement with the former Luz y Fuerza del Centro has been terminated.
Pemex to boost investment to $26.8 billion a year
Reuters - Mexico's state oil company Pemex aims to lift capital investment to an average $26.8 billion a year through 2019, Chief Executive Juan Jose Suarez said today, Monday. Pemex's capital spending is expected to be approximately $20 billion this year.
Geokinetics celebrates contract with Pemex
Dow Jones - Geokinetics Inc., a provider of seismic processing and services to mining and petroleum companies, received a $110 million survey contract from Mexico's state-owned oil company, Petroleos Mexicanos, or Pemex, for an ocean-bottom cable, transiton zone and land seismic data survey.
Cuba, U.S., Mexico urged to cooperate on Gulf drilling
Reuters - Cuba's oil industry wants to work with its counterparts in the United States and Mexico to promote safe drilling practices and avoid the kind of well blowout BP experienced in the Gulf of Mexico, a top drilling industry expert said on Wednesday.
Statoil says Pemex contions are not yet clear
Bloomberg - Statoil' CEO Helge Lund said that the framework conditions were not clear enough for the company to work in Mexico currently. Petroleos Mexicanos is seeking to attract Statoil to help develop reserves and will meet again with the Norwegian oil producer this week.
www.businessweek.com/news/2010-08-25/statoil-ceo-says-framework-conditions-in-mexico-not-clear-yet.html
Pemex sells $1 billion in bonds in third offering
Bloomberg - Petroleos Mexicanos, the state-owned oil monopoly, sold $1 billion of bonds maturing in 2035, its third dollar debt sale this year. The Mexico-City based company is tapping the market after growing demand for emerging-market assets drove the yield on the notes to a record low 5.64 percent on Aug. 20.
Pemex reaching out to foreign drilling firms
Bloomberg - Petroleos Mexicanos, Latin America’s largest oil producer, is seeking to attract Statoil to help the company develop reserves in Mexico, Carlos Garcia Valenzuela, Pemex's planning and assessment manager, said in an interview. The company is meeting with Statoil this week, as well as with Aker Solutions and Seadrill.
Oil rebounds from 6-wwek lows as dollar slips
Reuters - Oil rebounded as much as 0.7 percent to top $74 on Monday on a weaker dollar, but prices stayed close to last week's six-week lows on a combination of lacklustre economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico.
