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Oil Reserves In Mexico
As of 2007, the proven oil reserves in Mexico were . The US Energy Information Administration estimated Mexican proved reserves to be as of 2013. Production Mexico was the seventh-largest oil producer in the world as of 2006, producing of petroleum products, of which was crude oil. Mexican oil production has started to decline rapidly. The U.S. Energy Information Administration had estimated that Mexican production of petroleum products would decline to in 2007 and in 2008. Mexican crude oil production fell in 2007, and was below by the start of 2008. In mid-2008, Pemex said that it would try to keep crude oil production above for the rest of the year. Mexican authorities expected the decline to continue in future, and were pessimistic that it could be raised back to previous levels even with foreign investment. The constitution of Mexico gives the state oil company, Pemex, exclusive rights over oil production, and the Mexican government treats Pemex as a major sourc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Oil Reserves
An oil is any chemical polarity, nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobe, hydrophobic (does not mix with water) and lipophilicity, lipophilic (mixes with other oils). Oils are usually flammable and surfactant, surface active. Most oils are unsaturated lipids that are liquid at room temperature. The general definition of oil includes classes of chemical compounds that may be otherwise unrelated in structure, properties, and uses. Oils may be animal fats, animal, vegetable oil, vegetable, or petrochemical in origin, and may be Volatility (chemistry), volatile or non-volatile. They are used for food (e.g., olive oil), fuel (e.g., heating oil), medical purposes (e.g., mineral oil), lubrication (e.g. motor oil), and the manufacture of many types of paints, plastics, and other materials. Specially prepared oils are used in some religious ceremonies and rituals as purifying agents. Etymology First attested in English 1176, the word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Heavy Crude Oil
Heavy crude oil (or extra heavy crude oil) is highly viscous oil that cannot easily flow from production wells under normal reservoir conditions. It is referred to as "heavy" because its density or specific gravity is higher than that of light crude oil. Heavy crude oil has been defined as any liquid petroleum with an API gravity less than 20°. Physical properties that differ between heavy crude oils and lighter grades include higher viscosity and specific gravity, as well as higher molecular weight hydrocarbon composition. In 2010, the World Energy Council (WEC) defined extra heavy oil as crude oil having a gravity of less than 10° and a reservoir viscosity of more than 10,000 centipoises. When reservoir viscosity measurements are not available, extra-heavy oil is considered by the WEC to have a lower limit of 4° API. In other words, oil with a density greater than 1000 kg/m3 (or a specific gravity greater than 1) and a reservoir viscosity of more than 10,000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Petroleum In Mexico
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refining, refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric life, prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by oil drilling, drilling, which is done after a study of the relevant structural geology, sedimentary basin analysis, analysis of the sedimentary basin, and reservoir characterization, characterization of the petroleum reservoir. There are also unconventional (oil & gas) reservoir, unconventional reserves such as oil sands and oil sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Petroleum Industry In Mexico
The petroleum industry in Mexico makes Mexico the eleventh largest producer of oil in the world and the thirteenth largest in terms of net exports. Mexico has the seventeenth largest oil reserves in the world, and it is the fourth largest oil producer in the Western Hemisphere behind the United States, Canada and Brazil. Mexico is a member of OPEC+ and the North American Free Trade Agreement. The petroleum sector is a significant contributor to the Mexican economy, with oil revenues generating almost 7% of Mexico's export earnings. In 2014, income from the petroleum sector made up 33% of public sector income, and taxes on the revenues of the state-owned oil company Petróleos Mexicanos (Pemex) formed roughly 20% of all tax revenues collected by the Mexican government in 2022. While a significant contributor to the overall Mexican economy, the industry has been criticized as a driver of pollution and environmental destruction.Cavazos-Arroyo, J., Pérez-Armendáriz, B., & Mau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Talos Energy
Talos Energy Inc. is an oil and gas company that engages in the exploration, development, and production of oil and natural gas properties in the Gulf Coast and Gulf of Mexico. History The company was founded in 2012 by Timothy Duncan with a $600-million equity raise from Apollo Global Management and Riverstone Holdings. The company is based in Houston, Texas. In July 2017, Talos Energy, Premier Oil, and Sierra Oil & Gas announced that exploratory drilling in the Zama-1 field, located in the shallow waters of the Gulf of Mexico, had uncovered a formation with between 1.4 billion and two billion barrels of light crude oil. Because not all oil present is such a formation is technically recovered, it is believed that the formation could yield about 425 million barrels. In May 2018 Talos Energy Inc.("Talos") completed merger with Stone Energy Corporation (NYSE: SGY) ("Stone") and became Talos Energy, Inc. The new company trading on the New York Stock Exchange under the new ticke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Premier Oil
Premier Oil plc was an independent UK oil company with gas and oil interests in the United Kingdom, Asia, Africa and Mexico. It was devoted entirely to the 'upstream' sector of the industry — the exploitation of oil and gas — as opposed to the 'downstream' refining and retail sector. It was listed on the London Stock Exchange until it was acquired by Chrysaor Holdings and then merged into Harbour Energy in March 2021. History The Company started trading in 1934 as the ''Caribbean Oil Company'' with the intention of pursuing oil and gas exploration and production activities in Trinidad. It was first listed on the London Stock Exchange in 1936 as ''Premier (Trinidad) Oilfields'' For the next two decades, the Company concentrated its attention on oil production in Trinidad. The Company acquired its first interest in the North Sea in 1971; it expanded its operations in the UK Continental Shelf throughout the 1970s, merging with the Ball and Collins North Sea Consortium in 1977 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
DeGolyer And MacNaughton
DeGolyer and MacNaughton is a petroleum consulting company based in Dallas, Texas, with offices in Houston, Buenos Aires, and Algiers. DeGolyer and MacNaughton was founded in 1936 by Everette Lee DeGolyer and Lewis MacNaughton. DeGolyer had formerly known McNaughton through their work with the petroleum exploration company Amerada. While serving as President, DeGolyer hired McNaughton to work for Amerada in 1928. Company founding and early years In the 1930s bankers began offering essential long-term loans to prospective oil companies only after they had secured the unknown, subterranean collateral of the oil reserves at a particular site, which required the banks to rely on the integrity, competence, honesty, and experience of those individual assessing the value of the reserves. New financing methods were required which created a need for reliable and fully independent studies and evaluations of reservoirs. DeGolyer and McNaughton was established to meet these needs. On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates LLC. First nominated to the Federal Reserve by President Ronald Reagan in August 1987, Greenspan was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position, behind only William McChesney Martin. President George W. Bush appointed Ben Bernanke as his successor. Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts. Many have argued that the "easy-mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Chicontepec Field
The Chicontepec Basin (Chicontepec Formation) is a petroleum system in Mexico north-east of Mexico City, covering an area of around in the states of Veracruz, Puebla and Hidalgo. Several oil fields have been discovered in that area since 1926. A major field was discovered in 1973 but contains extra heavy crude, which due to special refining needs is considered unviable at this time. Since that time, tiny amounts of oil have been produced. While the reserves are overwhelmingly extra heavy crude, pockets of lighter tight oil, as well as natural gas, are also found in the basin. Attempts at increasing output In March 2006, Mexican President Vicente Fox Vicente Fox Quesada (; born 2 July 1942) is a Mexican businessman and politician who served as the 62nd president of Mexico from 2000 to 2006. After campaigning as a Right-wing populism, right-wing populist, Fox was elected president on the Nat ... announced that Pemex would invest US$37.5 billion over the next 20 years on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Mexico
Mexico, officially the United Mexican States, is a country in North America. It is the northernmost country in Latin America, and borders the United States to the north, and Guatemala and Belize to the southeast; while having maritime boundary, maritime boundaries with the Pacific Ocean to the west, the Caribbean Sea to the southeast, and the Gulf of Mexico to the east. Mexico covers 1,972,550 km2 (761,610 sq mi), and is the List of countries by area, thirteenth-largest country in the world by land area. With a population exceeding 130 million, Mexico is the List of countries by population, tenth-most populous country in the world and is home to the Hispanophone#Countries, largest number of native Spanish speakers. Mexico City is the capital and List of cities in Mexico, largest city, which ranks among the List of cities by population, most populous metropolitan areas in the world. Human presence in Mexico dates back to at least 8,000 BC. Mesoamerica, considered a cradle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Enhanced Oil Recovery
Enhanced oil recovery (abbreviated EOR), also called tertiary recovery, is the extraction of crude oil from an oil field that cannot be extracted after primary and secondary recovery methods have been completely exhausted. Whereas primary and secondary recovery techniques rely on the pressure differential between the surface and the underground well, enhanced oil recovery functions by altering the physical or chemical properties of the oil itself in order to make it easier to extract. When EOR is used, 30% to 60% or more of a reservoir's oil can be extracted, compared to 20% to 40% using only Extraction of petroleum#Primary recovery, primary and Extraction of petroleum#Secondary recovery, secondary recovery. There are four main EOR techniques: carbon dioxide (CO2) injection, gas injection, thermal EOR, and chemical EOR. More advanced, speculative EOR techniques are sometimes called quaternary recovery. Carbon dioxide injection, known as CO2-EOR, is the most common method. In thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Cantarell Field
Cantarell Field or Cantarell Complex is an aging supergiant offshore oil field in Mexico. It was discovered in 1976 after oil stains were noticed by a fisherman, Rudesindo Cantarell Jimenez, in 1972. It was placed on nitrogen injection in 2000, and production peaked at in 2004. In terms of cumulative production to date, it was the largest oil field in Mexico, and one of the largest in the world. However, production has declined since 2004, falling to in 2022. In 2009 it was superseded by Ku-Maloob-Zaap as Mexico's largest oil field. Location Cantarell is located offshore in the Bay of Campeche. This complex comprises four major fields: Akal (by far the largest), Nohoch, Chac and Kutz. The reservoirs are formed from carbonate breccia of Late Cretaceous age, the rubble from the asteroid impact that created the Chicxulub Crater. The recently discovered Sihil field (1-15,000 million barrels) contains light oil in Jurassic strata below the other reservoirs and is generally ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
