January 27, 2015 9:01 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Petroleos Mexicanos

Company Overview

Petróleos Mexicanos, together with its subsidiaries, is engaged 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...

Avenida Marina Nacional No. 329

Colonia Petróleos Mexicanos

Mexico, DF 11311

Mexico

Founded in 1938

154,924 Employees

Phone:

52 55 1944 9700

Key Executives for Petroleos Mexicanos

Chief Executive Officer
Age: 40
Chief Financial Officer and Corporate Director of Finance
Age: 50
Corporate Director of Operations
Age: 49
Chief Executive Officer of Pemex Refinacion
Director General of Pemex-Gas and Basic Petrochemicals
Age: 58
Compensation as of Fiscal Year 2014.

Petroleos Mexicanos Key Developments

Petroleos Mexicanos Seeks Partners

Petroleos Mexicanos is seeking partners for pipelines, storage terminals and industrial facilities such as power plants or fertilizer production sites, Emilio Lozoya, Chief Executive Officer of Petroleos told The Wall Street Journal. "The opportunities for international oil companies in the rest of the chain are going to be bigger," he added. "The information I have is that interest continues," Lozoya said. "And a major reason is that Mexico has production costs that are far below the price of oil ... at $22 per barrel," Lozoya added. Petroleos plans to invest $57 billion over 2014 and 2015 to explore oil in deep waters in the Gulf of Mexico, expand gas pipelines and upgrade refineries. "This is going to support economic growth in Mexico," Lozoya added.

Reliance Industries Limited and Petroleos Mexicanos Enters Into a Memorandum of Understanding

Reliance Industries Limited and the Petroleos Mexicanos have enters into a memorandum of understanding. As per MOU, RIL will cooperate with PEMEX for assessment of potential upstream oil and gas business opportunities in Mexico and jointly evaluate value added opportunities in international markets. RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry including for deep water oil and gas exploration and production. The MOU envisages of RIL’s pioneering expertise in deepwater development and best practices in East Coast onf India and RIL’s experience in shale gas and US.

Pemex to Invest $4.6 Billion in Tula Refinery Refit

Pemex will spend $4.6 billion on refitting its Tula refinery to meet the country's growing fuel demand. In addition to the upgrade, a new storage and distribution terminal will be built at Tula, at a cost of $1.2 billion. Pemex plans to invest more than $20 billion in refinery projects, including reconfiguration of the Tula, Salamanca and Salina Cruz refineries as well as ultra-low-sulfur diesel and gasoline plants. The Tula refit will allow gasoline and diesel production to be increased 65%, to 300,000b/d from 180,000b/d, and grow revenues by augmenting the conversion of refined products to 80% from 61%. ICA Fluor, the JV between Mexico's ICA and US-based Fluor Corp., will build a $1.3 billion coker plant at the refinery. It will provide engineering, procurement and construction services. The refinery will reopen in first quarter of 2018. The refinery will produce 173,000b/d of ultra-low-sulfur gasoline, 104,000b/d of diesel and 21,000/d of kerosene, increasing national supply by 100,000b/d.

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