| Petróleos Mexicanos | |
|---|---|
 |
|
| Type | Public ownership |
| Founded | 1938 |
| Headquarters |  Mexico City, Mexico |
| Key people | Jesús Reyes Heroles (CEO) Georgina Kessel (Chairwoman) |
| Industry | Oil and Gas Refining |
| Products | Petrochemical products |
| Revenue |  $198 billion USD (2006) |
| Employees | 138,215 |
| Website | http://www.pemex.com.mx |
Petróleos Mexicanos (PEMEX) is Mexico's state-owned petroleum company. Public ownership (also called government ownership, state ownership or state property) refers to Government Ownership of any Year 1938 ( MCMXXXVIII) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar. Mexico City (in Spanish: Ciudad de México, México DF, México or simply Méjico) is the Capital city of Mexico The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Georgina Kessel Martínez is a Mexican Economist. She is a former head of the Casa de Moneda de México (the Mexican mint and currently serves For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" These are lists of petroleum companies. List of companies by size of oil reserves A list of the largest petroleum companies is always somewhat arbitrary as state-owned companies In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Petrochemicals are chemical products made from raw materials of Petroleum or other Hydrocarbon origin In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Puerto Vallarta (English Vallarta Port is a Mexican resort city situated on the Pacific Ocean's Bahía de Banderas. Mexico City (in Spanish: Ciudad de México, México DF, México or simply Méjico) is the Capital city of Mexico The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. Petroleum ( L petroleum, from Greek πετρέλαιον, lit It is the 10th largest oil company in the world in terms of Revenue and 34th place out of the Fortune 500 companies. Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content
Asphalt and pitch had been worked in Mexico since the time of the Aztecs. Asphalt ( is a sticky black and highly viscous liquid or semi-solid that is present in most crude Petroleums and in some natural deposits sometimes termed asphaltum Aztec is a term used to refer to certain ethnic groups of central Mexico, particularly those groups who spoke the Nahuatl language and who achieved political Small quantities of oil were first refined into kerosene around 1876 near Tampico. Kerosene, sometimes spelled kerosine in scientific and industrial usage is a Combustible Hydrocarbon liquid Year 1876 ( MDCCCLXXVI) was a Leap year starting on Saturday (link will display the full calendar of the Gregorian Calendar (or a Leap year Tampico, located at, is the main city in the Mexican state of Tamaulipas, and is the Mexican Gulf 's main economic powerhouse By 1917 commercial quantities of oil were being extracted and refined by subsidiaries of the British Pearson and American Doheny companies, and had attracted the attention of the Mexican government who then claimed all mineral rights for the state as part of its Constitution. Year 1917 ( MCMXVII) was a Common year starting on Monday (link will display the full calendar of the Gregorian calendar (or a Common year An oil refinery is an industrial Process plant where Crude oil is processed and refined into more useful Petroleum products, such as Gasoline Pearson plc () is a London -based media conglomerate. It is the largest book Publisher in the UK, India, Australia Edward Laurence Doheny ( August 10, 1856 - September 8, 1935) was an Irish American Oil Tycoon, who in The Political Constitution of the United Mexican States of 1917 is the present Constitution of Mexico.
Contents |
Expropiación Petrolera
In 1938, President Lázaro Cárdenas sided with oil workers striking against foreign-owned oil companies for an increase in pay and social services. The Expropiación Petrolera ("Oil expropriation" is one of the Fiestas Patrias of Mexico, celebrating the date when the President, Year 1938 ( MCMXXXVIII) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar. First Mexican Empire (1822-1823 Presidents of Mexico (1824-1864 Between the time of Emperor Agustín de Iturbide's abdication ( March 19, 1823 This article is about Gen Lázaro Cárdenas del Río For his grandson see Lázaro Cárdenas Batel. On March 18, citing the 27th article of the 1917 constitution, President Lázaro Cárdenas embarked on the state-expropriation of all resources and facilities, nationalizing the U.S. and Anglo-Dutch operating companies, creating PEMEX. Events 37 - The Roman Senate annuls Tiberius ' will and proclaims Caligula emperor The United States of America —commonly referred to as the The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located The Netherlands ( Dutch:, ˈnedərlɑnt is the European part of the Kingdom of the Netherlands, which consists of the Netherlands the Netherlands In retaliation, many foreign governments closed their markets to Mexican oil. In spite of the boycott, PEMEX developed into one of the largest oil companies in the world and helped Mexico become the fifth largest oil exporter in the world.
Products
PEMEX is the sole supplier of all commercial gasoline (petrol/diesel) stations in Mexico. The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. All petrol stations, although labeled PEMEX, are concessions that are strictly full-service. PEMEX tried to take away the concessions from a large number of these for low-quality gasoline (often cut with up to 40% fuel oil) and for not serving the correct amount of gasoline (many serve only 9 litres for every 10 registered on the pump), however a judge ruled these were "not reasons to take away the concessions". Fuel oil is a fraction obtained from Petroleum Distillation, either as a distillate or a residue
The grades of PEMEX gasoline are 'Magna' (Regular Unleaded 87 octane - green pump handle) and 'Premium' (92 octane - red pump handle). Previously, PEMEX offered a leaded gasoline called 'Nova,' but this has been discontinued for environmental reasons (Nova gasoline, like many other leaded gasolines, have been discontinued due to stringent health regulations).
Some Pemex stations accept US Dollars and they are beginning to accept major credit cards.
Controversy
Customers have complained about the fraud committed by some gas stations, which consisted in selling "liters" of less than 900ml (leading to some to refer to these "liters" as "chiquilitros"; i. e. "small liters"). Pemex claims it is not responsible for such frauds and has claimed to be taking measures to counter this problem.
Other customers of the gas stations have been victims of "baptized" gasoline; meaning that approximately 3/4 liters of gasoline are mixed with 1/4 liters of water, in order to create a full liter capable of passing the weight inspections.
Accidents
On June 3, 1979, PEMEX's Ixtoc I exploratory oil well in the Gulf of Mexico, about 600 miles south of Texas, suffered a blowout and became the largest unintentional oil spill in history. Events 350 - Roman usurper Nepotianus, of the Constantinian dynasty, proclaims himself Roman Emperor, entering Year 1979 ( MCMLXXIX) was a Common year starting on Monday (link displays the 1979 Gregorian calendar) Ixtoc I was an exploratory oil well in the Gulf of Mexico, about south of the U For the fictional character see Oil Slick (Transformers. An oil spill is the release of a Liquid Petroleum Hydrocarbon into
On November 19, 1984 a series of explosions at the PEMEX petroleum storage facility at San Juan Ixhuatepec in Mexico City ignited a major fire and killed about 500 people. Events 1095 - The Council of Clermont, called by Pope Urban II to discuss sending the First Crusade to the Holy Land Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar) Mexico City (in Spanish: Ciudad de México, México DF, México or simply Méjico) is the Capital city of Mexico
On April 22, 1992, explosions in Guadalajara, Jalisco killed more than 200 people. Events 1500 - Portuguese Navigator Pedro Álvares Cabral becomes the first European to sight Brazil. Year 1992 ( MCMXCII) was a Leap year starting on Wednesday (link will display full 1992 Gregorian calendar) The 1992 explosion in Guadalajara, Mexico 's second largest city took place on April 22, 1992 in the downtown district of Analco Guadalajara (ˌgwɑːdləˈhɑːrə Spanish pronunciation) is the capital city of the Mexican state of Jalisco, and the seat of the municipality Jalisco is a state in Mexico. The capital of Jalisco is the city of Guadalajara.
On July 10, 2007, the Popular Revolutionary Army claimed responsibility for blasts on Pemex pipelines on July 5 and 10. Events 48 BC - Battle of Dyrrhachium, Julius Caesar barely avoids a catastrophic defeat to Pompey in Macedonia. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. The Popular Revolutionary Army or Ejército Popular Revolucionario is a Leftist guerrilla movement in Mexico. [1]
Reserves
Current situation
PEMEX, despite its current $77 billion in revenue, pays high taxes that contribute with a large portion of the budget of the federal government. The Chicontepec Basin is a petroleum system in Mexico located north-east of Mexico City, covering an area of around 3800 km² in the states of Veracruz Cantarell Field or Cantarell Complex is the largest Oil field in Mexico and one of the largest in the world Ku-Maloob-Zaap is an Oil field in Mexico. It is located offshore in the Bay of Campeche, 105 kilometers from Ciudad del Carmen. Torre Ejecutiva Pemex is a 214 m (703 ft Mexico City skyscraper opened in 1984. Indeed, in recent years the company has only been able to make ends meet through massive borrowing, so that it now owes a staggering $42. 5 billion, including $24 billion in off-balance-sheet debt because the Mexican government treats the company as a major source of revenue. Off balance sheet (OBS usually means an Asset or Debt or financing activity not on the company's Balance sheet. The state-run company pays out over 60% of its revenue in royalties and taxes, and those funds pay for a third of the federal government's budget. If oil prices drop or there are no major new discoveries of crude, that could spell big trouble for PEMEX despite its immense revenue stream and expansion prospects. However, in 2005, with record-breaking oil prices (due to the Iraq war, economic expansion of the United States and the People's Republic of China) the company has seen an unexpected excess of funds. The Iraq War, also known as the Second Gulf War, the Occupation of Iraq, or the War in Iraq, is an ongoing Military campaign China has the second-largest economy in the world with a GDP of over $ 6 This tendency continued in 2006, but these funds have been used to pay salaries of bureaucrats and current costs, instead of being invested in projects of exploration and production; during President Fox administration, these funds represent around 70 billion dollars[2], yet the administration says there is not enough money to pay the debts. Vicente Fox Quesada ( born July 2 1942) is a Mexican politician who served as President of Mexico from 2000 to 2006 and currently
To help capitalize the company former President Vicente Fox brought forward the possibility of making shares of PEMEX available to Mexican citizens and pension funds, to complement a current project-specific investment setup known as "Proyectos de Inversión Diferida En El Registro del Gasto" or PIDIREGAS[3]; this proposal, along with alleviating PEMEX's heavy tax burden and a substantial budget increase, have met opposition in Congress. Vicente Fox Quesada ( born July 2 1942) is a Mexican politician who served as President of Mexico from 2000 to 2006 and currently Congress (formally Congreso de la Unión or Congress of the Union) is the Legislative branch of the Mexican government. [4][5]
President Calderon made clear at the beginning of his presidency that he would respect the constitutional mandate to keep Pemex in government hands, but that he would try his best to open up the sector to private investment. [6]
Oil Reserves Declining
In an interview on the oil news website www.oilcast.com in November 2005, a PEMEX employee spoke anonymously of the company's inability to grow production, stating that the company and country is at Hubbert's Peak. PortalCurrent events News collections and sources See WikipediaNews collections and sources. The person interviewed believed export levels could not be recovered once peak had passed, as the size of current fields that have been discovered or are coming online represent a fraction of the size of the oilfields going into terminal decline.
Annual production has dropped each year since 2004. [1] Furthermore, it has been reported the 2005-2006 daily oil production was down by approximately 500,000 barrels a day (a large proportion of the country's 4. 5 million barrels) on the previous year.
PEMEX averaged 3. 71 MMBPD in 2006. [2] PEMEX has never produced 4 MMBPD or higher for a yearly average. [3]
See also
References
- ^ "Rebels claim Pemex pipeline attacks", Upstream Online, 2007-07-10. Mexico is the sixth largest producer of oil in the world and the tenth largest in terms of net export as of 2007 Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 48 BC - Battle of Dyrrhachium, Julius Caesar barely avoids a catastrophic defeat to Pompey in Macedonia. Retrieved on 2007-07-11. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 911 - Signing of the Treaty of Saint-Clair-sur-Epte between Charles the Simple and Rollo of Normandy.
- ^ Ingresos petroleros, el mejor aliado de Fox - El Universal - Finanzas
- ^ PEMEX.com | Frequently Asked Questions
- ^ Pemex May Be Turning From Gusher To Black Hole
- ^ World Business Briefing | Americas: Mexico: Pemex to Increase Spending
- ^ Vargas Llosa, Alvaro. "The True Price of Gas", The New Republic, 2008-05-06. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1527 - Spanish and German troops sack Rome; some consider this the end of the Renaissance. Retrieved on 2008-05-08. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 589 - Reccared summons the Third Council of Toledo 1450 - Jack Cade's Rebellion: Kentishmen
External links
- http://www.usaee.org/pdf/Nov06.pdf#19d "PEMEX: Challenges and Opportunities; Time for Reform?" (Nov. 2006) p. 19 by Justin Dargin
- (Spanish) Official site
- (Spanish) Security sheets for the use of substances (in PDF format) about the Pemex products: Magna, Diesel, Combustoleo
- Petróleos Mexicanos Company Profile on Yahoo!
- Mexico's crude oil production chart (1980-2004) - Data sourced from the US Department of Energy
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