• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 6 mins Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 18 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 8 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 12 hours Let's shut down dissent like The Conversation in Australia
  • 19 mins Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 29 mins Instagram Now Banning Photos Of People At Gun Ranges, Claiming They Promote "Violence"
  • 18 hours Hong Kong protesters appeal to Trump for support.
  • 7 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 6 hours Famous Manufacturer of Anti-Ethanol Additives Proves Ethanol's Safety and Benefits
  • 11 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 1 day Saudis Buying Oil From Iraq
  • 1 day Saudis Confirm a Cruise Missile from Iranian Origin
  • 3 hours US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
The Hottest Tech Stock For 2020

The Hottest Tech Stock For 2020

A new commodity has taken…

The Long-Term Effects Of A Crazy Week For Oil

The Long-Term Effects Of A Crazy Week For Oil

Now the dust has settled…

Mexico’s Pemex Now Third Largest Stock Holder in Repsol

Mexico's Petroleos Mexicanos state oil monopoly, more familiarly known as Pemex, recently bought 825,150 shares in Spain’s Repsol YPF, S.A., increasing its stake in the Spanish company to 5 percent.

Repsol YPF, S.A. is an integrated Spanish oil and gas company operating in 29 countries.

The Mexican company announced, “Pemex, through its subsidiary P.M.I. Holding B.V. … bought 825,150 shares in Repsol YPF, seeking to consolidate its position in this company consistent with the tax advantages available on reaching a 5 percent position in Spanish companies,” Mercopress news agency reported.

The purchase makes Pemex the third largest stock holder of Repsol YPF behind Sacyr Vallehermoso, a leading Spanish construction company based in Madrid, which owns 20 percent of the company’s outstanding shares, followed by Spain’s Criteria Corp. with 12.9 percent.

Pemex, Mexico's state-owned oil company says crude production fell by about 1 percent in the first half of 2011, as compared to same period last year but insisted that its steady decline in oil output that began around 2005 "has begun to be reversed," stating that its daily output dropped to about 2.56 million barrels in the first six months of 2011, about 27,000 barrels lower than the same period of 2010.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play