Pemex investment plans announced

Pemex CEO Emilio Lazoya announced plans on Thursday for Mexico’s national oil company to become the country’s second-largest power producer after the Federal Electricity Commission. To achieve this, Pemex plans to invest $1.4 billion into the conversion of the country’s oil-fired power facilities to natural gas and cogeneration power plants.

Most recently in October, Pemex awarded a contract to Mexican firm Grupo Hermés and Canada’s ATCO for the construction of a natural gas cogeneration plant at the Tula oil refinery in the state of Hidalgo. Half of the $820 million project will be paid for by ATCO and is expected to come online in 2017.

Recent Posts

SkyPower Global in 1-GW deal with Zambia electric utility

SkyPower Global has signed a 1-GW power purchase agreement with state-owned Zambia Electricity Supply Corp Read More

3 days ago

Afentra acquisition of Azule assets approved in Angola

The government of Angola has approved Afentra’s acquisition of a 12% non-operating interest in offshore Block 3/05 and a 16%… Read More

3 days ago

TotalEnergies, Vanguard Renewables to develop renewable natural gas

TotalEnergies has agreed with US player Vanguard Renewables to jointly develop renewable natural gas (RNG) in the USA, the French… Read More

3 days ago

Namibia: Sintana takes 67% in Giraffe, eyeing Orange Basin growth

Canadian exploration player Sintana Energy has expanded in Namibia’s Orange Basin with a deal to acquire up to 67% in… Read More

4 days ago

AD Ports Group secures 20-year concession in Luanda

The UAE’s AD Ports Group has signed a concession agreement to operate and upgrade Angola’s multipurpose Luanda Port, the Emirati… Read More

4 days ago

Trident Energy strikes triple deal for Congolese assets

UK-based Trident Energy has signed agreements with Chevron Corporation and TotalEnergies to obtain working interests in the Moho-Bilondo, Nkossa, Nsoko… Read More

4 days ago

This website uses cookies.