Member access

4-Traders Homepage  >  Shares  >  Mercato Continuo Espanol  >  Repsol SA    REP   ES0173516115

REPSOL SA (REP)

125
Real-time Quote. Real-time Tradegate - 10/24 02:05:38 pm
17.43 EUR   -0.63%
3d ago REPSOL : and the Spanish Red Cross sign a framework agreement to help the m..
10/16DJOil Rebounds After Slipping to Fresh Lows
10/16DJOil Drops Further as Markets Struggle to Find Support
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Mexico's Pemex To Evaluate Collaboration With Cuban State Oil Co

04/12/2012 | 02:51pm US/Eastern
   By Anthony Harrup 
   Of  
 

Mexican President Felipe Calderon said Thursday that Mexico and Cuba have agreed to evaluate the possibility of Mexican state oil monopoly Petroleos Mexicanos, or Pemex, participating in oil exploration projects in Cuba.

Calderon said in a message via his Twitter account that the two governments signed a non-binding letter of intention to evaluate the possibility. The letter was signed by Pemex's exploration and production unit, and Cuban state oil company Cupet.

The Energy Ministry said in a release that a workshop will be held in the near future in the Cuban capital Havana where Pemex will have the chance to analyze options for collaboration with its Cuban counterpart, either in projects currently being developed or in new areas of opportunity.

Mexican Energy Minister Jordy Herrera and Cuban Minister for Basic Industry Tomas Benitez also signed a memorandum of understanding on cooperation in a number of areas, including technology, training, research projects and strategic planning in oil, electricity, energy efficiency and renewables.

Calderon and other Mexican government officials are visiting Cuba and Haiti before traveling to Cartagena, Colombia, for this weekend's Summit of the Americas.

The presidential press office said the state visit to Cuba, at the invitation of Cuban President Raul Castro, sought to bolster relations between the two countries, increasing cooperation in trade and investment, energy, health, education and sport.

Pemex, which is among the world's largest oil companies, producing over 2.5 million barrels a day of crude oil, has limited experience abroad. Mexico nationalized its oil industry in 1938, and state-owned Pemex is the only producer of oil and gas in the country. The firm contracts out exploration and production work to private oil service companies, but keeps all rights to any oil or gas produced.

No private or foreign investment is allowed in Pemex under current law, although Pemex has about a 9.5% stake in Spanish oil company Repsol YPF SA (REPYY, REP.MC), and a joint-venture refinery with Royal Dutch Shell (RDSA, RSDA.LN, RDSB, RDSB.LN) in Deer Park, Texas.

In 2008, Pemex officials said they had turned down an offer by Brazilian state oil company Petrobras (PBR, PETR3.BR, PETR4.BR) to join it in a deep-water project on the U.S. side of the Gulf of Mexico, because of Mexico's restrictive energy laws. Pemex is exploring its own deep waters of the Gulf, but so far has no deep-water production.

-By Anthony Harrup, Dow Jones Newswires; 5255 5980-5176; anthony.harrup@dowjones.com

Latest news on REPSOL SA
3d ago REPSOL : and the Spanish Red Cross sign a framework agreement to help the most v..
10/16DJOil Rebounds After Slipping to Fresh Lows
10/16DJOil Drops Further as Markets Struggle to Find Support
10/15 REPSOL : publishes a trading statement for 3Q2014
10/13 REPSOL : presents its innovative products at the 1st Repsol Agro seminar
10/13 REPSOL : SK start production at the Cartagena base oil plant
09/30 REPSOL : Framework agreement between Repsol and the Paideia Galiza Foundation fo..
09/29 REPSOL : Inch Cape Offshore Limited Lights Up Wind Farm with ZephIR Lidar, Suppo..
09/25 REPSOL : is recognised for guaranteeing the safety of its employees abroad
09/04DJStatoil Acquires Share in Offshore Colombia Licences
Advertisement
Chart
Duration : Period :
Repsol SA Technical Analysis Chart | REP | ES0173516115 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF