Word: pemex
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Dates: during 1970-1979
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...recover a portion of this spill and contain and dissolve the rest, Pemex, the Mexican State oil company, has put together a small army of 500 workers, 22 boats and twelve aircraft. But chances of halting the flow soon are dim because the undersea gauges and wellhead are blocked by debris from the shattered rig. Pemex is drilling two intercepting relief wells to tap the oil below its escape point and thus stop the leakage. But such a procedure can take at least two months...
Interest in Mexico's energy wealth reached fever pitch last month, when Pemex, the government monopoly, revealed the latest strike in the Chicontepec field near the Gulf Coast city of Tampico. Pemex Chief Jorge Diaz Serrano estimated that the field would double the country's potential reserves of oil and gas to more than 200 billion...
...matter how it is gauged, all this is splendid news for Mexicans, millions of who live in poverty. Pemex hopes to lift production from its present 1.5 million bbl. a day to 2.5 million by 1980. At the same time, it expects to triple its oil exports to 1 million bbl. a day, mainly to the U.S. (whose total imports now are 9.1 million bbl.). As a result, oil earnings are expected to hit $8 billion annually...
...thieves], and they know this is a money town now." The better bars echo with the accents of Texas and Oklahoma, since Americans have been quietly allowed in to market equipment and technical advice. Brazilians, Frenchmen and Israelis are also eager to buy Mexico's oil and gas if Pemex does not strike a deal with...
...horse trading. President Carter will journey to Mexico in mid-February to trade abrazos and to parley in his struggling Spanish with President Lopez Portillo. Now that Congress has passed the energy bill and U.S. natural gas prices will rise in January, Carter can comfortably sweeten the price for Pemex gas. In order to encourage Mexico's struggling agriculture and industry, and to relieve its population pressures, he would do well to promise higher economic aid, lower trade barriers on imports of Mexican textiles and produce, and a reversal of present moves toward stringent immigration controls. Above...