Energy
Pemex posts $25 billion trade surplus in 2011
Latin American Herald Tribune - Petroleos Mexicanos, or Pemex, said it posted a trade surplus of $24.99 billion in 2011, up 28 percent from the prior year. Exports totaled $55.79 billion, while imports came in at slightly more than $30.8 billion.
Gas station found to sell stolen gasoline
Associated Press - Mexican officials said Monday they have found a new distribution point for thousands of gallons of gasoline stolen from state-owned pipelines: a seemingly normal gas station with official logos.
Mexico hedges 2012 oil at $85 a barrel
Bloomberg - Mexico, the third-largest supplier of oil to the U.S., has locked in prices for 2012 oil exports at $85 a barrel. The nation normally hedges oil exports to cover a possible revenue shortfall if prices fall.
www.bloomberg.com/news/2012-01-31/mexico-hedged-2012-oil-at-85-a-barrel-finance-ministry-says.html
Pemex confirms oil find off Veracruz state
Latin American Herald Tribune - An “active petroleum system” has been found off the coast of the Mexican Gulf state of Veracruz, but it is not yet known how much oil is in the field, Petroleos Mexicanos (Pemex) said.
Pemex moves toward reconciliation with Repsol
Dow Jones - Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, said Wednesday that it had moved forward on a proposed industrial accord with Spanish oil company Repsol after the companies fought a boardroom battle.
www.foxbusiness.com/news/2012/01/25/mexicos-pemex-moves-toward-accord-with-repsol-after-spat/
Mexico revises law to include hydroelectric plants
Renewable Energy World - A modification to Mexico's renewable energy law will broaden the country's definition of "renewable" to include larger hydroelectric plants. Hydroelectric power currently accounts for 12.8 percent of Mexico's total production.
Oil spill might take month to clean up
Reuters - Two weeks after a pipeline leak in coastal Mexico sent oil gushing into a river, state oil monopoly Pemex has recovered about two-thirds of the spilled crude, but the full clean-up could take another month.
www.reuters.com/article/2012/01/14/us-mexico-oil-idUSTRE80D0KY20120114
Pemex narrows pricing premium for oil to U.S.
Dow Jones - Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, said Wednesday that it will narrow its pricing premium for February shipments of heavy Maya crude oil to the U.S. to $1.60 a barrel from $3.50 per barrel in January.
Mexico says it has controlled oil spill near Gulf
Associated Press - Mexico’s Environment Department says a spill of 1,500 barrels of oil from a pipeline near the Gulf coast has been brought under control, and about 40 percent of the oil along a 5-mile stretch of the Coatzacoalcos river has been recovered.
Pemex board supports normalizing Repsol ties
Dow Jones - Petroleos Mexicanos, or Pemex, said the monopoly's board of directors gave unanimous support to Chief Executive Juan Jose Suarez Coppel to seek closer collaboration with Spanish oil company Repsol, in which Pemex has a 9.5 percent stake.
