Word: pemex
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Dates: during 1950-1959
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MEXICAN NATURAL GAS will be imported into U.S. for first time. Federal Power Commission gave final approval to 20-year deal between Mexico's Pemex oil and gas agency and Texas Eastern Transmission Corp. to import some 200 million cu. ft. daily for Eastern customers. Texas Eastern will spend $83 million on a program which includes a 30-in. pipeline running 422 miles from Mexican border at McAllen, Texas, to Beaumont...
MEXICAN NATURAL GAS will soon be supplied to U.S. markets in quantity for the first time. Pemex (Mexico's national oil and gas company) has signed a deal with Texas Eastern Transmission Corp. to export between 100 million and 200 million cu. ft. of methane gas daily from Reynosa, Mexico through pipelines to Eastern U.S. consumers...
...Pools. Modest as the Tenixtepec find was (estimated output for 1953: 50,000 bbls. a day), the new field, along with another recent Pemex find in central Tabasco, showed that the Mexicans were at last beginning to bring in new oil to supplement the old fields the foreign companies left them. Already, U.S. crews working for Pemex were drilling in the swamps west of Tenixtepec in hopes of tapping new underground pools. Next week, a new ten-inch pipeline will carry the first Tenixtepec oil into Pemex' 1,200-mi. national network...
...Pemex itself, ridden with politics and labor trouble when Aleman came to power, is now a going business operation. In the opinion of one oldtime Mexico City oilman, it "stands out like a 20,000-ft. mountain when compared with other Mexican government operations." Over the past six years, as Pemex has ended its anti-U.S. policy and sent technicians north of the border for advanced training, production has increased an average of 15% annually, is now almost double what it was the year before expropriation. Two big refineries have been built at Reynosa and Salamanca, three other refining...
Clean Hands. Much credit for Pemex' transformation belongs to hard-driving Antonio Bermudez, the millionaire whisky distiller from Chihuahua whom Aleman. drafted to boss the show in 1946. Apparently contemplating retirement last week, Bermudez said: "I have handled over 9 billion pesos, and have the right to say my conscience and my hands are clean." Many Mexicans, convinced that only Bermudez keeps Pemex from ruin by political grafters and grifters. hope that he will be asked to stay on. In Bermudez' office sits a life-size bust of President-elect Adolfo Ruiz Cortines, but all Bermudez says...