Word: dez
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...Brightness. The man mainly responsible for the new brightness of the Mexican oil picture, and for the reappearance in it of U.S. operators, is Antonio Bermúdez, 53, a handsome, greying Chihuahua industrialist. He was appointed director of the government oil monopoly, Pemex, a few days after President Miguel Alemán took office...
...ingeniously held together with baling wire had barely managed to keep established wells producing; hardiy anything had been done in the way of new exploration and drilling. With cabinet rank to help him make needed changes and deal firmly with the high-riding, left-wing oil union, Bermúdez brought in 51 producing wells in 1947 and 83 more the following year. In 1949, Pemex added 180 new wells to bring national production to an estimated 60 million barrels for the year...
...Fields. Bermúdez says that he spends about 99% of his waking hours thinking about Pemex. Three days each week he visits oil regions in his DC-3, "El Petrolero"; the rest of the time he works hard in Pemex' pseudo-colonial, four-floor office building on Mexico City's Avenida Juárez. He often dashes over to the Casa Crema for a conference with President Aleman...
Bringing the Americans back was one of Bermúdez' shrewdest strokes. The first group to begin work, in June 1949, was the Mexican American Independent Oil Co. (C.I.M.A.), an operating unit jointly set up by the Signal Oil & Gas Co., the American Independent Oil Co. and hustling California Oilman Ed Pauley, who had had previous experience in Mexico. C.I.M.A. was allotted an unexploited area along the Gulf in the states of Veracruz, Tabasco and Campeche for exploration and drilling. After payment of their expenses, the Americans will collect 15 to 18¼% of the new wells' income...
Last week Bermúdez' hole card looked more like a trey than an ace. Mexico's oil is not "vital" to U.S. defense, a consultant told the State Department. The consultant was Max W. Ball, a one-time director of the Oil and Gas Division in the Interior Department. Ball reported that Canada, where U.S.-controlled oil companies have already made rich discoveries, "offers more alluring prospects, geologically and politically, than Mexico...