Mexico Expects to Double Auto Output in 10 Years
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Mexico expects to double automobile capacity in 10 years, attracting investment of as much as $10 billion from foreign automakers, Economy Minister Fernando Canales said in an interview.
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The number of personal computers worldwide is expected to double by 2010 to 1.3 billion machines, say analysts.
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Ernesto Zedillo on the uncertainty of the global finanical picture in the year ahead.
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Production at Mexicoâs giant Cantarell oil field will fall by 15 percent this year, JesÃºs Reyes HerÃ³les, left, the director general of PetrÃ³leos Mexicanos, Mexicoâs state-owned oil monopoly, said. Output dropped 13.1 percent last year. Mr. Reyes HerÃ³les, a former energy minister who took over at Pemex in December, said other projects would help make up for the shortfall at Cantarell, which last year accounted for about 55 percent of Pemexâs overall production of 3.26 million barrels a day. Mexico is a top supplier of imported oil to the United States. Mr. Reyes HerÃ³les said that the company needed additional investment of $8 billion to $10 billion a year to keep up production, develop new reserves, expand its refining capacity and modernize its storage and transport network. But Pemex is closed to private investment and cannot finance the investment itself. Last year, Pemex sales surpassed $100 billion but it paid $79 billion in taxes, which accounted for almost 40 percent of Mexicoâs federal budget.
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Federal officials are predicting that oil and gas production in the offshore, federally controlled waters of the Gulf of Mexico will increase during the next 10 years, reversing production decreases seen in 2003.
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Officials at Mexico's state-owned oil monopoly said Monday that the company has detected massive new oil deposits in the Gulf of Mexico that could potentially double the country's reserves, but industry analysts cautioned that the  findings are still unproven.
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China is set to become to the world's largest consumer of energy by 2010, a report claims.
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LONDON - World trade in oil will double over the next 25 years, intensifying pressure on supply chokepoints which threaten security of international flows, the International Energy Agency (IEA) said yesterday.
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Xinhua world economic news summary at 0500 GMT, June 19    MEXICO CITY -- Mexican President Felipe Calderon announced on Monday that his country would invest 7 billion pesos (around 636 million U.S. dollars) in a social and economic development project to help 100 poorest municipalities.
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The natural foods chain is predicting double-digit sales growth until 2010.
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Looking at Mexico's opportunities can mean making profits while others nap.
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Mexico's economic recovery continues driven by strong export demand, the government said.
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Saudi Arabia may boost output capacity by 30 percent within two years in order to prevent shortages, the country&#39;s oil minister said.
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ÃÂ· When it would take effect: Model year 2011 (cars sold in 2010).
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Oil prices fall back from record highs as Mexico is due to resume full output and hopes of a rise in US stockpiles.
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Speaking at the India Economic Summit in New Delhi, Finance Minister P Chidambaram said that the Indian economy will grow at 7% annually, for the next ten years, reports CNBC-TV18.
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The Organization of Petroleum Exporting Countries (OPEC) is likely to keep production close to a 25-year high to prevent shortages during the US winter, OPEC officials said.