Petróleos Mexicanos , which translates to Mexican Petroleums, is the Mexican state-owned petroleum company, created in 1938 by nationalized petroleum and the expropriation of all private foreign and domestic companies at that time. Pemex has a total asset worth of $415.75 billion, and is the world's second largest non-publicly listed company by total market value, and Latin America's second largest enterprise by annual revenue as of 2009, surpassed only by Petrobras . The majority of its shares are not listed publicly and are under control of the Mexican government, with the value of its publicly listed shares totaling $202 billion in 2010, representing approximately one quarter of the company's total net worth. Emilio Lozoya Austin is the current CEO of Pemex. Wikipedia.
News Article | April 17, 2017
Lourdes Melgar SM ’88 PhD ’92, the Robert Wilhelm Fellow at the Center of International Studies at MIT and Mexico’s former deputy secretary of energy for hydrocarbons, recently delivered a talk at the MIT Energy Initiative (MITEI) outlining Mexico’s historic energy reform. An architect of the design and implementation of the reform, Melgar discussed the need for energy reform, the role of private investors, and the remaining challenges for Mexico moving forward. In a conversation with MITEI, she reflects on these main themes from her talk. Q: Why was Mexico in need of energy reform, and how did the reform increase Mexico's energy security while also mitigating climate change? A: Since 2004, Mexico’s oil production had been declining, going from a peak of 3.4 million barrels a day (mmbd) to 2.3 mmbd in less than a decade. In spite of significant increase in investment in exploration and production, the downturn continued. In addition, Mexico’s dependency on imports of natural gas and refined products grew to levels that seriously threatened energy security. Electricity rates with subsidies were, on average, 25 percent higher than in the United States, hurting Mexico’s competitiveness. The country was not fully exploiting its renewable energy potential, despite the wide availability of sources and its legal commitments to energy transition and climate change mitigation. Mexico needed an overhaul of its energy model to reverse these tendencies, strengthen energy security, and lead the country on the path to a lower-carbon economy. The Reforma Energetica (Energy Reform) established a new institutional arrangement based on the principles of open-market competition, rule of law, sustainability, and transparency. The reform transforms the upstream, allowing contracts that are awarded through a bidding process to private participants in addition to the national oil company, Petroleos Mexicanos (PEMEX), which, after receiving its entitlements, has to compete on equal footing with other companies to increase its acreage. In the mid- and downstream, as well as in the electricity sector, competitive energy markets are established. In the power sector, clean energy certificates are mandated, thus boosting the deployment of clean energies. As the implementation of the reform advances, energy security will increase, and climate change goals are more likely to be met. Q: What role do private investors play in Mexico's energy reform? A: The energy reform does away with a model based on state monopolies and establishes a system where PEMEX and the national utility company, Comisión Federal de Electricidad (CFE), become state productive enterprises that have to compete in the market under the same rules of the game as private participants. The reform strengthened the independence and transparency of regulators, in order to grant certainty to investors. Attracting private investors is key to increasing efficiency, production, and energy security. In addition to reversing the decline in oil and gas production, boosting competitive natural gas and fuels markets, Mexico needs to add 62 megawatts to its power system by 2029, grow its transmission and pipelines, and enhance its distribution infrastructure. Private and public resources are required to meet the demands of investment of the energy sector. Private sector participation will be key to the success of the energy reform as it allocates fresh resources to infrastructure development, brings about competition and efficiency, and promotes technological and managerial best practices. Q: What are the biggest remaining challenges for Mexico as it consolidates its new energy model? A: Mexico has been able to implement an all-encompassing energy reform in record time. In order to consolidate the new model, it is essential to maintain a technical approach to the implementation, the independence of regulators, and high levels of transparency and accountability. Wider public understanding and acceptance of the reform is also needed. This will come about as the benefits of the reform trickle down to the communities where projects are developed and to society in general. The strengthening of PEMEX and CFE are central to the success of the reform, as are the creation of value chains of supply, social licensing of the projects, and an effective security of supply policy. In a changing economic and international environment, all of these objectives require continuous work and commitment.
News Article | November 3, 2016
HOUSTON, TX--(Marketwired - November 03, 2016) - KBR, Inc. ( : KBR) announced today that in a decision involving COMMISA, a subsidiary of KBR, the United States Second Circuit Court of Appeals denied PEMEX Exploracion y Produccion's (PEP) petition for rehearing on a judgment in favor of COMMISA in excess of $465 million. This favorable outcome follows a decade of litigation involving two offshore natural gas treatment, processing and reinjection platforms which COMMISA built for PEP, platforms which have been working and in use by PEP since 2004 but for which COMMISA was never fully compensated. "We are encouraged by this positive result for KBR's subsidiary COMMISA and believe this moves us another step closer to recovering substantial amounts long overdue for work performed decades ago," said Stuart Bradie, President and CEO of KBR. KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Hydrocarbons and Government Services Sectors. KBR employs over 31,000 people worldwide, with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses: KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company. KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
News Article | November 30, 2016
CALGARY, ALBERTA--(Marketwired - Nov. 30, 2016) - International Frontier Resources Corporation ("IFR" or the "Company") (TSX VENTURE:IFR)(OTCQB:IFRTF) today announced that President and CEO Steve Hanson will participate in a Latin American panel at the Oil & Gas Council's upcoming 2016 World Oil & Gas Week congress in London. The congress is the largest annual gathering of international industry executives, financiers and investors. IFR was one of the first foreign companies to participate in the historic reform of Mexico's oil and gas sector. Last week, IFR assumed operatorship of the Tecolutla block from state-owned PEMEX. Tecolutla was acquired through a 50-50 joint venture with Mexican petrochemical leader Grupo IDESA in last year's onshore block auction. The 2016 World Oil & Gas Week takes place December 5-6, 2016. Additional information is available from the conference website. International Frontier Resources Corporation (IFR) is a Canadian publicly traded company with a demonstrated track record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera S.A.P.I de CV (Frontera) and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico. The Company also has projects in Canada and the United States, including the Northwest Territories, Alberta and Montana. The Company's shares are listed on the TSX Venture, trading under the symbol IFR and on the OTCQB under the symbol IFRTF. For additional information please visit www.internationalfrontier.com. "Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release". The Company seeks Safe Harbor.
News Article | February 21, 2017
DALLAS, TX--(Marketwired - February 21, 2017) - Thompson & Knight LLP today announced Partner Luis F. Moreno Treviño and Associate Roxana Burciaga Contreras have joined the Firm's Mexico City office in the International Energy and Real Estate and Banking Practice Groups. "Luis has nearly 20 years of expertise counseling clients in the energy, hospitality, and real estate industries, and Roxana brings experience in international corporate, real estate, and energy transactional law," said Luis F. Gomar, Thompson & Knight's Mexico City Office Leader and a Partner in the Firm's International Energy Practice Group. "Their experience will benefit an array of clients across a variety of industries. Both are welcomed additions to our team of lawyers in Mexico as we continue to expand to meet our clients' growing demands in Mexico." Mr. Moreno's breadth of experience involves roles in both the private and public sectors. In the public arena, he worked with the Mexican Ministry of Finance and the International Legal Department of PEMEX. In private practice, he has worked with law firms in New York City and Mexico City. Most recently, Mr. Moreno has been actively and successfully involved in representing oil and gas companies in connection with their potential investment in Mexico as a result of Mexico's energy reform in all bids of Round 1 and the ongoing Round 2. Additionally, he has extensive expertise in structuring and planning various bi-national mortgage programs for U.S. major non-bank banks and mortgage companies; long-term lease agreements with multinational corporations on build-to-suit industrial buildings in Mexico, and off-balance sheet financing; acquisition and development of major hotel projects in many of Mexico's most renowned beach resorts; preparation and negotiation of hotel operation agreements; structuring and planning of fractional programs for various hotel developers and operators; financing of industrial real estate portfolios and mortgage securitization programs; development, construction, and financing of golf courses and high-end residential projects in major Mexican beach resorts; restructuring and workouts of major hotel development financing; sale-leaseback transactions involving top industrial and commercial building facilities in Mexico; and global fund acquisition of a multibillion-dollar industrial portfolio in Mexico. Mr. Moreno's general corporate and finance practice includes bank loan syndications, debt restructuring of Mexican companies, mergers and acquisitions, and the privatization of government-controlled companies. Consistently recognized for his legal work, Mr. Moreno has been selected for inclusion in Chambers USA (2013) and Chambers Latin America (2010, 2014 and 2016-2017) both by Chambers & Partners; Latin Lawyer 250 by Law Business Research Ltd. (2010; 2016); and The Best Lawyers in Mexico® by Woodward/White, Inc. (2015-2016). Mr. Moreno is actively involved in various professional organizations, including currently serving as the Vice Chair of the North American Forum of the International Bar Association, and formerly as Council Member of the Legal Practice Division and Immediate Past Chair of the Real Estate Law Section for the International Bar Association. He also is the former Group Vice Chair of the Special Investors and Investment Structure Group and Past Chair of the Committee on International Investment in Real Estate of the RPPT Section for the American Bar Association. Mr. Moreno is an Active Member of the Mexican and Texas-Mexico Bar Associations. He received his law degree, with high honors, from Universidad Nacional Autónoma de México in 1991 and received an LL.M., magna cum laude, from the University of Houston in 1993. Immediately prior to joining Thompson & Knight, Mr. Moreno served as Administrative Partner of Haynes and Boone, LLP's Mexico City office and led its real estate and hospitality practices. He is licensed to practice in Mexico and New York. Ms. Burciaga focuses her practice on oil and gas transactional, real estate, and corporate governance. She represents buyers, sellers, owners, lenders, servicers, investors, and developers in a variety of real estate and corporate transactions. Ms. Burciaga works with clients on real estate acquisitions and dispositions of all types of commercial real estate, and assists international oil and gas companies in public bidding processes. Her experience also includes international corporate transactions. She received her law degree from Instituto Tecnológico Autónomo de México ("ITAM") in 2014 and an LL.M., Business Law Certification, and Advanced Certificate in Energy Law from the University of California Berkeley School of Law in 2015. While Spanish is her native language, she is also fluent in English and conversational in French and Portuguese. Immediately prior to joining Thompson & Knight, Ms. Burciaga was an Associate in Haynes and Boone, LLP's Mexico City office. She is licensed to practice in Mexico. About Thompson & Knight Established in 1887, Thompson & Knight is a full-service law firm with more than 300 attorneys. The Firm provides legal solutions to clients and communities around the world and is particularly recognized for its depth of experience and capabilities on behalf of the energy industry. Thompson & Knight has been named "Law Firm of the Year" in Oil & Gas Law in U.S. News-Best Lawyers® "Best Law Firms" for 2011-2013, 2015, and 2017. This year, Thompson & Knight proudly celebrates 130 years of service. For more information, visit www.tklaw.com.
News Article | December 7, 2016
DALLAS, TX--(Marketwired - December 07, 2016) - Thompson & Knight LLP assisted BHP Billiton Petróleo Operaciones de México ("BHPB"), a unit of Australia's BHP Billiton Ltd., in the bid process to select PEMEX's partner to develop the Trion field in the Gulf of Mexico. The Firm also assisted China Offshore Oil Corporation E&P Mexico ("CNOOC"), a unit of CNOOC Ltd., in securing two license agreements from the National Hydrocarbons Commission. The Trion and Round 1.4 deepwater tenders concluded on December 5, during the final phase of Mexico's first oil and gas bid round since the country began energy reform in 2013. "The results of these tenders are of historic proportions and we are honored to be at the forefront, assisting our clients in navigating the challenges and opportunities presented by Mexico's most ambitious energy reform since the oil industry nationalized in 1938," said Gabriel Ruiz, Thompson & Knight's Monterrey Office Leader and a Partner in the Firm's International Energy Practice Group. BHPB secured operatorship and 60 percent interest of the areas covering the Trion field, located south of Mexico's maritime border with the United States. The company's bid of $624 million includes a commitment to an additional royalty of four percent. Production from Trion is expected to start in 2023 with output reaching 120,000 boe/d in 2025. CNOOC was awarded Blocks 1 and 4 in the Perdido Fold Belt, offering an additional royalty of 17.01 percent and 15.01 percent, respectively, as well as investment commitments in excess of the required minimum. This bidding phase awarded eight of 10 deepwater blocks in the Gulf of Mexico to a variety of global operators. The next bid round (shallow-water blocks) involves 15 areas off the coast of the states of Veracruz, Tabasco, and Campeche, and is expected to be awarded March 22, 2017 in the first phase of Round Two. For more information about Mexico Energy Reform, visit http://www.tklaw.com/energy-mexico-practices/. Established in 1887, Thompson & Knight is a full-service law firm with more than 300 attorneys. The Firm provides legal solutions to clients and communities around the world and is particularly recognized for its depth of experience and capabilities on behalf of the energy industry. Thompson & Knight has been named "Law Firm of the Year" in Oil & Gas Law in U.S. News-Best Lawyers® "Best Law Firms" for 2011-2013, 2015, and 2017. For more information, visit www.tklaw.com.
News Article | February 28, 2017
In 2013, Mexican President Enrique Pena Nieto launched the Reforma Energética (RE) to reverse the nation’s decline in oil production and encourage green energy initiatives by ending the monopoly of Petróleos Mexicanos (PEMEX) in the nation’s fossil fuel sector and opening up opportunities for foreign direct investment. Now, four years after the reforms began, a new presidential hopeful is threatening to derail the liberalization and review any contracts that have been signed since the entire process began. Lopez Obrador, who currently polls in first place to be elected for Mexico’s top public office in 2018, has argued that the current government’s position of inviting foreign funds to its nation is unconstitutional. Recognizing that the reforms have created economic opportunities for thousands of Mexican students and professionals, the candidate has toned down his rhetoric, suggesting a referendum before any decisions regarding the future of the RE are made. Reuters reports that Obrador’s rise in popularity can be linked to widespread disenchantment with the newly inaugurated U.S. President Donald Trump’s rhetoric regarding immigrants from the nation’s southern neighbor as well as the North American Free Trade Agreement (NAFTA). If the former Mexico City mayor wins the election, this could cause billions of dollars in losses for several multinational oil majors – including Exxon Mobil, which used to be run by the current U.S. Secretary of State Rex Tillerson. Any hopes that the former CEO will be able to steer Trump’s rhetoric to benefit Exxon or his other oil sector buddies in Mexico have been extinguished by new reports that Tillerson has been kept in the dark regarding American foreign policy issues. Related: Have The Majors Given Up On Canada’s Oil Sands? Fundamentally, Obrador’s suggested policies follow a “Mexico-first” model, which promises to allow private oil firms to remain active in the country as long as the operations are “good for the nation,” according to Alfonso Romo, the candidate’s policy advisor. “We won’t just be scrapping them for the sake of it,” Romo, told Reuters last Tuesday. “I don’t know, though, if there will be any new ones, to be honest with you.” Since the reform process started, gasoline prices have been on the rise, fueling anti-Nieto sentiments in a nation with historically complicated relationships with foreign powers. The disappearance of national fuel subsidies has given the impression that the finances of the reforms favor international oil companies at the expense of Mexican citizens. If a referendum confirms a plan to scrap the new liberal policies, the government will review the existing contracts and determine if they are “well-made,” Romo said. “When the Mexican state gives its word, it must be fulfilled.” This isn’t Obrador’s first time participating in a presidential election. In the past two cycles, the leftist candidate representing the Party of the Democratic Revolution (PRD) placed second behind Nieto’s centrist Institutional Revolutionary Party. If next year’s elections bring the PRD to power, it would signal a significant leftward shift in the politics of Latin America’s second largest economic power. The differences in economic policy between Nieto and Obrador vary most radically regarding the future of the oil sector. Both leading candidates – Obrador, and whoever the PRI chooses to be Nieto’s political successor, will defend NAFTA – despite the treaty’s disastrous effect on Mexico’s agricultural sector, especially corn farmers. As a handful of European countries and the United States take a right-turn politically riding on nationalist sentiments, Mexico is gearing up to head in the opposition direction, but with the same effect. Setting fire to essential liberalization policies will isolate the Mexican oil sector from the boons of globalization as oil prices recover and multinationals resume interest in exploration and production ventures.
News Article | February 21, 2017
LETHBRIDGE, Alberta, Feb. 21, 2017 (GLOBE NEWSWIRE) -- Robix Environmental Technologies, Inc. (“Robix” or the “Corporation”) (CSE:RZX) (Frankfurt:R0X) (OTC:ROBXF) is pleased to announce that through its subsidiary Corris Technologies Mexico S.A de C.V ("Corris"), Robix has entered into an agreement to lease the C-160 that has been used as a demonstration unit in Tuxpan, Veracruz, Mexico during the past year. The customer ("Ecios & Salida Construcciones Group" or “Ecios”) has been awarded a remediation contract in the state of Veracruz, and has chosen the C-Series as a key tool in its remediation strategy for this project. The remediation site, which is near Texistepec, Veracruz has been undergoing various stages of remedial work over the past few years. Since Robix has been in active technology demonstration with both Ecios and other stakeholders, it has been determined that the C-160 is an ideal choice for remediation of this site. Nathan Hansen, President & CEO of Robix, states: “Our ongoing marketing activity, including demonstration of the C-160 with PEMEX officials, has brought us to the attention of customers such as Ecios and we are very pleased with this new business relationship. It demonstrates that containment, recovery and disposal equipment is a practical and needed solution to today’s remediation needs.” Mr. Hansen added, "I am grateful to our Corris team and our Mexico partners for securing this business relationship. We are looking forward to possible expansion of our C-Series product line and potential water treatment solutions in this remediation project.” Karla Alva-Jorstad, Managing Director of Corris commented: "The remediation of Texistepec lagoon will have a major ecological impact, as it is one of the largest environmental liabilities on the North American continent. The lagoon contamination is a very significant problem and has been a major concern for local communities for several years. Being involved in a project of this magnitude is milestone Robix/Corris´ history and provides credibility to the Company as an important entity in the environmental protection arena. Robix is focused on the worldwide market for oil containment, recovery and cleaning equipment specifically for the oil spill protection, oil production and water cleaning and purification industries. To that end, Robix has commercialized its C Series Clean Ocean Vessel and the P Series Stationary Platform; both are based on a patented revolutionary oil recovery technology. The C Series is a vessel that recovers oil in rough ocean waters, lakes, rivers and tailings ponds in virtually any conditions. The P Series is an oil recovery platform designed to accelerate oil recovery from settling ponds at production facilities. The Company also offers a suite of Hydro Cycle Water purification and cleaning products. No stock exchange or any securities regulatory body has reviewed the contents of this news release.
Mexican Institute of Petroleum, Pemex and Polytechnic University of Valencia | Date: 2014-12-04
Mexican Institute of Petroleum, Pemex and Polytechnic University of Valencia | Date: 2014-12-23
A layered multimetallic mixed oxide (LMMO) is characterized by one or more diffraction peaks at 5<2<15, preferably between 10<2<15. The catalysts can be represented by the general formula: M1 M2 M3 O_()
Mexican Institute of Petroleum, Pemex and Polytechnic University of Valencia | Date: 2013-03-15
A layered multimetallic mixed oxide (LMMO) is characterized by one or more diffraction peaks at 5<2<15, preferably between 10<2<15. The catalysts can be represented by the general formula: M1M2M3O_() wherein