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Mexico wants oil alliance with Brazil's Petrobras
08/18/09 09:33 AM
The creation of an oil "alliance between Mexico and Brazil, as well as to increase the productive capacity of both countries" was proposed Sunday by Mexico President Calderon, on an official visit to Brazil.
Earlier, President Calderon proposed checking into the creation of a free trade agreement between what he called "the two biggest and strongest Latin American economies."
"It is in the Mexican government's interest to strengthen the mechanisms of scientific, technological, academic and operational cooperation between Petrobras and Pemex as well as for the Mexican and Brazilian governments to lay foundation for a long-lasting alliance and cooperation," said Calderon.
This alliance will be beneficial to the peoples of both countries as well as to the region, Calderon said on a visit to the Research and Development Center of Petrobras.
Pemex will be able to learn from Petrobras' experience, technology, development capacity and production rate of 2.7 million barrels of oil per day.
The president of the Brazilian company, Jose Sergio Gabrielli de Azevedo, explained that five new refineries are under construction and will be completed by 2013. Furthermore, the company is present in 22 countries, has 1, 600 researchers and a goal to reach 5.7 million barrels of oil a day by the year 2020, said Gabrielli de Azevedo.
Ten years ago Pemex produced 2 million barrels a day while the Brazilian company only produced 800 thousand. Pemex can learn from the radical transformation Petrobras underwent, said Calderon.
Over the last 6 years, Petrobras has tripled its daily oil production while Pemex reduced daily production by 600 barrels.
Calderon said that his government is committed to making profound changes to the global oil business and to make Pemex into one of the biggest companies in the world.
It is "paradoxical" that Petrobras is drilling 10 thousand feet deep in the Gulf of Mexico, while Mexico only has the organizational and operational capacity to drill three thousand feet, said Calderon.
By Knight Ridder/Tribune Business News
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