Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Hot Stocks Free for All !
»
BUGS !!!
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by Peaser01: [QB] http://www.planetark.com/dailynewsstory.cfm/newsid/29297/newsDate/1-Feb-2005/story.htm [b]Pemex Wants $9 Billion to Fix Pipes, Oil Spills[/b] MEXICO: February 1, 2005 MEXICO CITY - Mexican state oil monopoly Pemex Monday confirmed an oil spill in Veracruz state -- it's fifth spill of oil or fuel in four months -- as energy authorities said $9 billion was needed to fix the country's old and rusting pipeline network. Pemex said the Jan 26. crude oil spill occurred near the town of Hueyapan de Ocampo, Veracruz. A Pemex spokeswoman in the nearby Gulf of Mexico port of Coatzacoalcos told Reuters around 45,000 liters (283 barrels) of oil had seeped into the subsoil from a faulty pipeline. She said the leak was caused by corrosion. Local media have quoted Veracruz Governor Fidel Herrera as saying the spill could pollute underground water sources. A joint statement by Pemex, Mexico's energy and environment ministries, and environmental watchdog Profepa said Pemex needed to invest 100 billion pesos ($9 billion) over the 2006-2008 period for a huge backlog in repairs to 36,738 kilometers (22,961 mile) of aging pipeline. The recent spate of spills has thrust attention onto the state of pipes pumping oil, gasoline, natural gas and chemicals around the Gulf of Mexico states of Veracruz, Tabasco and Campeche, where the oil industry is centered. Pemex chief Luis Ramirez is due to appear before Congress later Monday to discuss the situation. Mexico's IMP oil research institute estimates that half of Mexico's pipelines are more than 30 years old and corroded. While Pemex has cleaned up the worst of the spills and trucked bottled water into contaminated areas, residents and fishermen were still suffering the aftermath, illustrated by photos in the local media of dead fish and oil-stained earth. Pemex, which pays taxes worth 61 percent of its revenue, has complained for years that it cannot operate properly with the budget Congress gives it. Last week Pemex said pipeline repairs would cost $3 billion over six years. Mexico is the world's No. 9 oil exporter, selling much of its 1.95 million barrels per day to the United States. A reform to ease Pemex's tax burden by trimming royalties on oil produced from new oilfields has been held up in Congress by opposition Senators wary of any changes to Pemex's statute. The company is spending the bulk of its $11 billion investment budget this year on exploration and production, its main focus based on concerns that output from its largest oilfield will start declining from 2006. Pemex officials at a spill of toxic naphtha fuel a week ago near the town of Agua Dulce, Veracruz, told Reuters over the past weekend that the company needs to extend a computerized leak alert system to its entire pipeline network. Story by Catherine Bremer REUTERS NEWS SERVICE [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2