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PENN OCTANE CP Message Board

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  • grazingbull_2000 grazingbull_2000 Nov 17, 2003 8:35 PM Flag

    Management Raping Shareholders

    PEMEX: Investing in Two Cryogenics Plants, Cuts Down LPG Imports
    ----------------------------------------------------------------
    Mexico's state oil company, Pemex, will invest in two cryogenics
    plants at Reynoso, reports Business News Americas, citing Pemex
    Gas y Petroquimica Basica deputy director Salvador Garcia-Luna.
    The Company has earmarked US$130 million for the projects this
    year.

    The new plants will allow the Company to cut down on liquefied
    petroleum gas (LPG) imports. Presently, Pemex only produces
    205,000 barrels of the country's daily LPG demand of 335,000
    barrels. Pemex imports LPG to fill in the gap.

    Mr. Garcia-Luna said Mexican-US engineering and construction
    joint venture ICA-Fluor Daniel and German engineering firm Linde
    Process Plants have begun working on the plants. Based on the
    working schedules, the first cryogenic plant should be
    operational by December 2003 and the second by February 2004.

 
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