Word: pemex
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...slowly against suspect members of the administration of his predecessor, José Lopez Portillo, whose government was widely regarded as corrupt. Last week, in a move that created a nationwide sensation, the government accused Jorge Díaz Serrano, 63, former head of the state oil monopoly, Petroleos Mexicanos (Pemex), and the "architect" of Mexico's oil boom, of corruption. The charge: defrauding Pemex of $34 million in connection with the purchase of two Belgian natural gas tankers...
DIED. Miguel Aleman, eightyish, President of Mexico from 1946 to 1952, who helped build PEMEX, his country's government-owned oil-production monopoly, and later became an energetic booster for Mexican tourism; of a heart attack; in Mexico City. The son of a revolutionary general who helped topple Dictator Porfirio Diaz in 1911, Aleman ran a regime noted for widespread corruption and came away from office a multimillionaire with extensive land holdings in Acapulco...
...touch the pure muscle of the refineries along the Houston Ship Channel, but the La Cangrejera complex dwarfs any single facility in Houston. And it isn't even the largest oil facility in Mexico." In Coatzacoalcos, the group met with Mario Ramon Beteta, the new director-general of Pemex, the state oil monopoly, who was crisp and candid in discussing the problems of his nation's petroleum industry...
...Mercado points out that past experience suggests that 6.7% of total offshore oil production will spill into the sea because of such mishaps as blowouts, platform fires and other accidents. The world's largest oil spill, in fact, occurred in the Caribbean when a well being drilled by Pemex, the Mexican national petroleum company, blew on June 3, 1979. Before it was capped 290 days later, it had poured some 475,000 metric tons of oil into the sea. Scientists still cannot say what the effects were on the rich fisheries, coral reefs or sea-grass beds...
...their workers increases of 10%, 20% or 30% "to restore purchasing power." In a single stroke, Lopez Portillo had wiped out most of the gains of the devaluation that had shaken his administration-and lost much of the prestige of his office. As he dolefully told one audience of Pemex workers: "Today I am a symbol of a devalued presidency...