Petróleos Mexicanos, together with its subsidiaries, engages in the exploration, exploitation, refining, transportation, storage, distribution, and sale of crude oil, natural gas, and derivatives of petroleum and natural gas in Mexico. It operates through Exploration and Production; Refining; Gas and Basic Petrochemicals; Petrochemicals; and International Trading segments. The Exploration and Production segment explores for and produces crude oil and natural gas, primarily in the northeastern and southeastern regions of Mexico and offshore in the Gulf of Mexico. The Refining segment converts crude oil into gasoline, jet fuel, diesel, fuel oil, asphalts, and lubricants; and distributes and ma...
Avenida Marina Nacional No. 329
Colonia Petróleos Mexicanos
Mexico, DF 11311
Founded in 1938
Sasol, Partners Award $45 Million Condensate Sales Contract to PETROMOC
Sep 11 15
In a drive to promote local content in Mozambique, Sasol and its partners have entered into an agreement with Petrleos de Moambique (PETROMOC), to purchase condensate from the Central Processing Facility in Temane, Inhambane province. Sasol's commitment to Mozambique began well over a decade ago, when, together with its partners, CMH and IFC developed the Pande/Temane natural gas project. This project pioneered the monetisation of the Pande and Temane gas fields which had been effectively 'stranded' for over 30 years. The natural gas project has resulted in significant benefits flowing to Mozambique, with the investment unlocking the country's natural wealth and providing a platform for much-needed foreign investment, economic growth, skills and social development.
Petróleos Mexicanos and GE Sign Memorandum of Understanding to Fuel the Future of the Mexican Energy Sector
Sep 11 15
GE and Petróleos Mexicanos (PEMEX) signed a Memorandum of Understanding (MOU), as part of the GE's quarterly meeting of its Corporate Executive Council in Crotonville, New York, with the presence of Pemex CEO, Emilio Lozoya Austin and GE's Chairman and CEO, Jeff Immelt. As an answer to the new situation in the Mexican market, Pemex is in a process of transformation and has redesigned its business strategy with the purpose of finding partners that would strength its operational capabilities, share the risk of execution and generate new businesses . In this sense the MOU sets the framework for GE and PEMEX to work together on technological and financial solutions for gas compression, power generation and hydrocarbons production, onshore and offshore, including subsea and downstream. Also, GE will explore opportunities for the local expansion of its manufacturing and engineering capabilities, and will foster the implementation of technologies based on the Industrial internet -the internet of things. Finally, both companies will share best practices on training and human resources. One successful example of GE's partnership with Pemex is the rejuvenation of Pemex fertilizer facility located in Pajaritos, Mexico, playing a key role on revitalizing the country's fertilizer production which would reduce its reliance on imports. GE will provide a full turnkey installation solution that renews facility's performance and efficiency. The newly restored plant will meet about 25% of Mexico's domestic demand for Urea.
Petroleos Mexicanos Reports Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 28 15
Petroleos Mexicanos reported consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total sales of MXN 308,864 million, operating income of MXN 53,926 million, income before taxes and duties of MXN 13,142 million, net loss of MXN 84,630 million, comprehensive loss of MXN 86,079 million against total sales of MXN 409,070 million, operating income of MXN 171,091 million, income before taxes and duties of MXN 165,628 million, net loss of MXN 52,295 million, comprehensive loss of MXN 51,660 million a year ago.
For the quarter, the company produced natural gas of 6,282 MMcfd, natural gas liquids 323 Mbd, petroleum products of 1,216 Mbd and petrochemical products of 1,249 Mt against natural gas of 6,524 MMcfd, natural gas liquids 368 Mbd, petroleum products of 1,401 Mbd and petrochemical products of 1,366 Mt a year ago.
For the six months, the company reported total sales of MXN 588,363 million, operating income of MXN 102,359 million, income before taxes and duties of MXN 15,421 million, net loss of MXN 185,176 million, comprehensive loss of MXN 180,722 million against total sales of MXN 816,004 million, operating income of MXN 352,259 million, income before taxes and duties of MXN 339,779 million, net loss of MXN 88,249 million, comprehensive loss of MXN 87,615 million a year ago. Net cash flow used in operating activities of MXN 40,906 million compared to net cash flow provided by operating activities of MXN 23,188 million a year ago. Acquisition of property, plant and equipment of MXN 100,325 million compared to MXN 92,594 million a year ago.
For the six months, the company produced natural gas of 6,442 MMcfd, natural gas liquids 336 Mbd, petroleum products of 1,218 Mbd and petrochemical products of 2,422 Mt against natural gas of 6,523 MMcfd, natural gas liquids 368 Mbd, petroleum products of 1,366 Mbd and petrochemical products of 2,712 Mt a year ago.