I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday 1 March 2013

Pemex plans $20bn E&P spend for 2013

CW8888: Good chance of more orders from Pemex to Kep Corp and SML?
 
 
Pemex said on Thursday that it dropped to another quarterly loss as the company continued to struggle with stagnating production at mature fields and mounting expenses.

The Mexican state-led oil company posted a net loss of 26.9 billion pesos ($2.1 billion) in the three months to December, widening a net loss of 15.7 billion pesos in the 2011 period.
But it plans to redouble investment efforts in 2013, targeting spending of 326.3 billion pesos ($25.3 billion) for 2013.

Of the amount, 256.4 billion pesos ($20 billion) are to be targeted to upstream activities and 33.9 billion pesos to exploration.

That compares to overall investment of 311.5 billion pesos in 2012.

Reform and streamlining at Pemex is one of the stated goals of the new Mexican presidential administration of Enrique Pena Nieto, which took over last year.

Pemex's fourth-quarter crude production eked out a modest gain, growing by .4% from the 2011 period to average 2.56 million barrels per day.

The change came thanks to repairs made at projects including Yaxche and Chuc in the southeast marine region, as well as a 2.3% increase in light-crude production following the startup of the Tsimin field.

Fourth-quarter daily oil and gas production dropped 0.7% to an average of 3.26 million barrels of oil equivalent per day.

Total sales for the quarter stayed essentially flat at US $32.3 million compared to the year-ago quarter.

Pemex also saw a 44% increase in expenses over the year-ago quarter on an increasing operational expenses and employee benefit costs.

No comments:

Post a Comment

Related Posts with Thumbnails