Mexican oil company Petroleos Mexicanos said it lost production capacity for about 700,000 barrels of oil, more than a third of its daily output, after a massive platform explosion on Friday that left at least two people dead.
The company is working to recover production, Octavio Romero, Pemex's chief executive, confirmed in a video late on Saturday, and it has already recovered to 600,000 barrels.
About 450,000 barrels of oil and more than 560 million cubic feet of gas, roughly 11 per cent of Pemex’s total natural gas output, were lost on Saturday only at the Ku Maloob Zaap production asset as the company shut production as a contingency measure, a source said earlier.
While the one-day loss is significant, it is likely to be temporary as Pemex resumes some of its operations following the deadly blaze, the source said. A Pemex representative did not immediately respond to requests for comment on the loss or its current production capacity outside of normal office hours.
Two people died and one remains missing after Pemex reported an explosion at the Nohoch Alfa platform gas processing centre in the Cantarell field early on Friday.
Mr Romero said the platform’s connection module was destroyed but firefighting efforts had helped stop the blaze from spreading.
Pemex’s head of exploration and production Angel Cid said the explosion “substantially impacted” production at the platform.
Mexico’s Cotemar, which provides oilfield services, confirmed in a statement on Saturday the two workers who died in the blast were its employees and another one is still missing.
Pemex has come under scrutiny from analysts for its environmental and safety record after frequent accidents and explosions at its facilities. The company is shouldering $107.4 billion (Dh394.4 billion) in debt, the most of any oil major, and is struggling under a liquidity crunch.
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
