252:
132:, exclusive rights over oil production, and the Mexican government treats Pemex as a major source of revenue. As a result, Pemex has insufficient capital to develop new and more expensive resources on its own, and cannot take on foreign partners to supply money and technology it lacks. To address some of these problems, in September 2007, Mexico’s Congress approved reforms including a reduction in the taxes levied on Pemex.
1539:
303:, and Sierra Oil & Gas announced that exploratory drilling in the Zama-1 field, located in the shallow waters of the Gulf of Mexico, had uncovered a formation with between 1.4 billion and two billion barrels of light crude oil. Because not all oil present in such a formation is technically recovered, it is believed that the formation could yield about 425 million barrels.
200: m/d). However, in January 2008, Pemex said that the oil production rate at Cantarell had fallen to 811,000 barrels per day (129,000 m/d) by December 2008, a decline of 36 percent from a year earlier. This resulted in a decline of total Mexican oil production declining by 9.2 percent from 3.1 million barrels per day (490
286:
estimated that the
Chicontepec Field had 139 billion barrels of oil in place, but that there was as yet no technical way to recover it. Some government officials were unhappy with the results at Chicontepec, expressing concern that costs were higher and oil production lower than expected. Mexico had
287:
spent $ 3.4 billion on the field, but it was producing only 30,800 barrels per day (4,900 m/d) by June, 2009 and increased only slightly to 46,000 barrels per day (7,300 m/d) in the 3rd quarter 2010, causing them to question whether more investment in the field was justified.
227:, which was found in 1926. The field has remained undeveloped because the oil is trapped in impermeable rock, requiring advanced technology and very large numbers of oil wells to extract it. The remainder of Mexico's fields are smaller, more expensive to develop, and contain
294:
announced in July 2017 that a new well in its Amoca Field exploration project put the field's resources at 1 billion barrels. The company plans to begin production from the field in 2019 at a rate of 30,000 to 50,000 barrels per day. Also in July 2017,
121: m/d) for the rest of the year. Mexican authorities expected the decline to continue in future, and were pessimistic that it could be raised back to previous levels even with foreign investment.
147:
project to maintain oil flow, which now consumes half the nitrogen produced in the world. As a result of nitrogen injection, production at
Cantarell rose from 1.1 million barrels per day (170
238:
warned that declining oil production in Mexico could cause a major fiscal crisis there, and that Mexico needed to increase investment in its energy sector to prevent it.
554:
754:
1309:
1504:
290:
The 2013 Energy Reform has introduced private investment by international energy companies in exploration efforts in Mexico. Italian company
111: m/d) by the start of 2008. In mid-2008, Pemex said that it would try to keep crude oil production above 2.8 million barrels per day (450
486:
918:
143:, which used to be the second-biggest oil field in the world by production. Because of falling production, in 1997 Pemex started a massive
1176:
1272:
1613:
1528:
618:
190:
In mid-2008, Pemex announced that it would try to end the year with
Cantarell producing at least 1.0 million barrels per day (160
465:
1431:
1186:
1055:
350:
1319:
575:
719:
684:
433:
1148:
1033:
1497:
1050:
959:
667:
1618:
881:
769:
709:
75:
33: m). The US Energy Information Administration estimated Mexican proved reserves to be 10.3 billion barrels (1.64
1649:
1457:
876:
851:
631:
1374:
969:
908:
434:"Petroleos Mexicanos (PEMEX): Lack of Fiscal Autonomy Constrains Production Growth and Raises Financial Leverage"
407:
332:
1118:
846:
78:
had estimated that
Mexican production of petroleum products would decline to 3.52 million barrels per day (560
1490:
1181:
1086:
841:
689:
1644:
1608:
1389:
1287:
1191:
1171:
991:
974:
871:
312:
167: m/d) in 2004. However, during 2006 Cantarell's output fell 25% from 2.0 million barrels per day (320
1096:
996:
923:
657:
611:
54:
was the seventh-largest oil producer in the world as of 2006, producing 3.71 million barrels per day (590
1654:
1399:
1220:
1111:
1101:
774:
729:
529:
1623:
1304:
1023:
1006:
928:
861:
382:
1206:
1201:
896:
891:
886:
835:
826:
704:
283:
1598:
1277:
1138:
866:
674:
734:
1603:
1583:
1563:
1553:
1342:
1247:
1143:
1001:
981:
679:
604:
125:
1588:
1568:
1414:
1267:
1257:
1133:
1081:
1011:
964:
903:
724:
144:
231:
and trades at a significant discount to light and medium oil, which is easier to refine.
1578:
1573:
1558:
1426:
1262:
1237:
1232:
1123:
1028:
662:
647:
784:
74: m/d) was crude oil. Mexican oil production has started to decline rapidly. The U.S.
8:
1379:
1369:
1252:
1158:
1038:
986:
809:
789:
439:. Report Number: 77084. Moody's Investor Service - Global Credit Research. Archived from
101:
Mexican crude oil production fell in 2007, and was below 3.0 million barrels per day (480
265:
Please help update this article to reflect recent events or newly available information.
1409:
1384:
947:
933:
749:
1450:
1334:
1314:
1299:
1196:
1128:
1069:
1043:
856:
831:
821:
639:
224:
555:"Eni hits net pay in Amoca, Mexico, boosts resource estimate to one billion barrels"
1352:
1106:
799:
794:
694:
358:
511:
1466:
1421:
1404:
1394:
1357:
1292:
1242:
779:
228:
140:
440:
1091:
913:
235:
136:
1638:
1471:
1324:
1018:
64: m/d) of petroleum products, of which 3.25 million barrels per day (517
1513:
1362:
1163:
759:
300:
135:
Most of Mexico's production decline involves one enormous oil field in the
17:
1482:
1347:
296:
139:. From 1979 to 2007, Mexico produced most of its oil from the supergiant
744:
739:
714:
699:
223:
As for its other fields, 40% of Mexico's remaining reserves are in the
652:
1282:
764:
187: m/d) in December, with the decline continuing through 2007.
596:
220: m/d) in 2008, the lowest rate of oil production since 1995.
157: m/d) in 1996 to a peak of 2.1 million barrels per day (330
1538:
627:
51:
129:
512:"El Universal - Mexico halla reserva historica de petroleo"
357:. Energy Information Administration. 2007. Archived from
291:
177: m/d) in January to 1.5 million barrels per day (240
88: m/d) in 2007 and 3.32 million barrels per day (528
530:"Mexico gov't doubts mount on Chicontepec oil project"
383:"Mexico's Pemex says year-end oil output to miss goal"
210: m/d) in 2007 to 2.8 million barrels per day (450
576:"Investors Find Major Oil Deposit in Gulf of Mexico"
431:
463:
234:In June 2007, former U.S. Federal Reserve Chairman
466:"Pemex Oil Output Fell at Fastest Rate Since WWII"
1636:
408:"Mexico says reform won't reverse oil woes fast"
1498:
612:
1512:
1149:North American Free Trade Agreement (NAFTA)
1505:
1491:
619:
605:
487:"Mexico oil output drop may spark crisis"
377:
375:
1529:List of countries by proven oil reserves
479:
464:Martinez, Andres R. (January 21, 2009).
345:
343:
341:
1637:
372:
331:US Energy Information Administration,
1486:
600:
338:
245:
626:
241:
13:
14:
1666:
770:Institutional Revolutionary Party
76:Energy Information Administration
1537:
250:
568:
547:
518:. Compaia Periodstica Nacional.
335:, (proved reserves as of 2013).
333:International energy statistics
23:were 12.4 billion barrels (1.97
522:
504:
457:
425:
400:
325:
1:
690:Centralist Republic of Mexico
432:Parker, Alexandra S. (2003).
318:
128:gives the state oil company,
46:
1119:Institutional stock exchange
755:Second American intervention
313:Petroleum industry in Mexico
7:
1320:Water supply and sanitation
685:Spanish reconquest attempts
306:
10:
1671:
720:Second French intervention
668:Control of Central America
557:. Energy Voice. 2017-07-12
1546:
1535:
1521:
1444:
1333:
1228:
1219:
1077:
1068:
955:
946:
919:Tropical cyclone rainfall
817:
808:
638:
491:The Sydney Morning Herald
259:This section needs to be
960:Administrative divisions
284:DeGolyer and MacNaughton
1650:Oil reserves by country
1375:Handcrafts and folk art
1144:National stock exchange
882:Protected natural areas
710:Second Mexican Republic
675:Supreme Executive Power
355:Country Analysis Briefs
1187:States by unemployment
1177:Science and technology
680:First Mexican Republic
516:www.eluniversal.com.mx
126:constitution of Mexico
21:oil reserves in Mexico
1415:Our Lady of Guadalupe
909:Territorial evolution
725:Second Mexican Empire
98: m/d) in 2008.
43: m) as of 2013.
1614:United Arab Emirates
1432:World Heritage Sites
847:Environmental issues
705:Mexican–American War
663:First Mexican Empire
1645:Petroleum in Mexico
1087:Automotive industry
975:Chamber of Deputies
658:War of Independence
580:Wall Street Journal
1288:Indigenous peoples
1192:Telecommunications
1051:State legislatures
992:Federal government
872:Metropolitan areas
750:Mexican Revolution
282:In February 2009,
145:nitrogen injection
1655:Geology of Mexico
1632:
1631:
1480:
1479:
1440:
1439:
1215:
1214:
1064:
1063:
1034:Political parties
997:Foreign relations
942:
941:
730:Restored Republic
648:Pre-Columbian era
280:
279:
225:Chicontepec Field
1662:
1541:
1507:
1500:
1493:
1484:
1483:
1460:
1453:
1400:National symbols
1226:
1225:
1167:
1112:Renewable energy
1102:Economic history
1075:
1074:
953:
952:
815:
814:
795:Chiapas conflict
695:Texas Revolution
621:
614:
607:
598:
597:
591:
590:
588:
587:
572:
566:
565:
563:
562:
551:
545:
544:
542:
541:
526:
520:
519:
508:
502:
501:
499:
498:
483:
477:
476:
474:
473:
461:
455:
454:
452:
451:
445:
438:
429:
423:
422:
420:
419:
404:
398:
397:
395:
394:
379:
370:
369:
367:
366:
347:
336:
329:
275:
272:
266:
254:
253:
246:
242:Future resources
216:
215:
206:
205:
196:
195:
183:
182:
173:
172:
163:
162:
153:
152:
117:
116:
107:
106:
94:
93:
84:
83:
70:
69:
60:
59:
39:
38:
29:
28:
16:As of 2007, the
1670:
1669:
1665:
1664:
1663:
1661:
1660:
1659:
1635:
1634:
1633:
1628:
1542:
1533:
1517:
1511:
1481:
1476:
1463:
1456:
1449:
1436:
1329:
1305:Public holidays
1278:Nationality law
1273:Life expectancy
1211:
1165:
1060:
1024:Law enforcement
938:
929:Water resources
804:
780:Mexican miracle
634:
625:
595:
594:
585:
583:
574:
573:
569:
560:
558:
553:
552:
548:
539:
537:
528:
527:
523:
510:
509:
505:
496:
494:
485:
484:
480:
471:
469:
462:
458:
449:
447:
443:
436:
430:
426:
417:
415:
414:. July 29, 2008
406:
405:
401:
392:
390:
389:. July 30, 2008
381:
380:
373:
364:
362:
349:
348:
339:
330:
326:
321:
309:
276:
270:
267:
264:
255:
251:
244:
213:
211:
203:
201:
193:
191:
180:
178:
170:
168:
160:
158:
150:
148:
141:Cantarell Field
114:
112:
104:
102:
91:
89:
81:
79:
67:
65:
57:
55:
49:
36:
34:
26:
24:
12:
11:
5:
1668:
1658:
1657:
1652:
1647:
1630:
1629:
1627:
1626:
1621:
1616:
1611:
1606:
1601:
1596:
1591:
1586:
1581:
1576:
1571:
1566:
1561:
1556:
1550:
1548:
1544:
1543:
1536:
1534:
1532:
1531:
1525:
1523:
1519:
1518:
1510:
1509:
1502:
1495:
1487:
1478:
1477:
1475:
1474:
1469:
1462:
1461:
1454:
1446:
1445:
1442:
1441:
1438:
1437:
1435:
1434:
1429:
1424:
1419:
1418:
1417:
1407:
1402:
1397:
1392:
1387:
1382:
1377:
1372:
1367:
1366:
1365:
1355:
1350:
1345:
1339:
1337:
1331:
1330:
1328:
1327:
1322:
1317:
1312:
1307:
1302:
1297:
1296:
1295:
1290:
1280:
1275:
1270:
1265:
1260:
1255:
1250:
1245:
1240:
1235:
1229:
1223:
1217:
1216:
1213:
1212:
1210:
1209:
1207:Water scarcity
1204:
1202:Transportation
1199:
1194:
1189:
1184:
1179:
1174:
1169:
1161:
1159:Pension system
1156:
1151:
1146:
1141:
1136:
1131:
1126:
1121:
1116:
1115:
1114:
1104:
1099:
1094:
1089:
1084:
1078:
1072:
1066:
1065:
1062:
1061:
1059:
1058:
1053:
1048:
1047:
1046:
1036:
1031:
1026:
1021:
1016:
1015:
1014:
1009:
999:
994:
989:
984:
979:
978:
977:
972:
962:
956:
950:
944:
943:
940:
939:
937:
936:
931:
926:
921:
916:
911:
906:
901:
900:
899:
897:Municipalities
889:
884:
879:
874:
869:
864:
859:
854:
852:Extreme points
849:
844:
839:
836:Climate change
829:
824:
818:
812:
806:
805:
803:
802:
797:
792:
787:
782:
777:
772:
767:
762:
757:
752:
747:
742:
737:
732:
727:
722:
717:
712:
707:
702:
697:
692:
687:
682:
677:
672:
671:
670:
660:
655:
650:
644:
642:
636:
635:
624:
623:
616:
609:
601:
593:
592:
567:
546:
521:
503:
478:
456:
424:
399:
371:
351:"Mexico - Oil"
337:
323:
322:
320:
317:
316:
315:
308:
305:
278:
277:
271:September 2024
258:
256:
249:
243:
240:
236:Alan Greenspan
137:Gulf of Mexico
48:
45:
9:
6:
4:
3:
2:
1667:
1656:
1653:
1651:
1648:
1646:
1643:
1642:
1640:
1625:
1622:
1620:
1619:United States
1617:
1615:
1612:
1610:
1607:
1605:
1602:
1600:
1597:
1595:
1592:
1590:
1587:
1585:
1582:
1580:
1577:
1575:
1572:
1570:
1567:
1565:
1562:
1560:
1557:
1555:
1552:
1551:
1549:
1545:
1540:
1530:
1527:
1526:
1524:
1520:
1515:
1508:
1503:
1501:
1496:
1494:
1489:
1488:
1485:
1473:
1470:
1468:
1465:
1464:
1459:
1455:
1452:
1448:
1447:
1443:
1433:
1430:
1428:
1425:
1423:
1420:
1416:
1413:
1412:
1411:
1408:
1406:
1403:
1401:
1398:
1396:
1393:
1391:
1388:
1386:
1383:
1381:
1378:
1376:
1373:
1371:
1368:
1364:
1361:
1360:
1359:
1356:
1354:
1351:
1349:
1346:
1344:
1341:
1340:
1338:
1336:
1332:
1326:
1323:
1321:
1318:
1316:
1313:
1311:
1310:States by HDI
1308:
1306:
1303:
1301:
1298:
1294:
1291:
1289:
1286:
1285:
1284:
1281:
1279:
1276:
1274:
1271:
1269:
1266:
1264:
1261:
1259:
1256:
1254:
1251:
1249:
1246:
1244:
1241:
1239:
1236:
1234:
1231:
1230:
1227:
1224:
1222:
1218:
1208:
1205:
1203:
1200:
1198:
1195:
1193:
1190:
1188:
1185:
1183:
1182:States by GDP
1180:
1178:
1175:
1173:
1170:
1168:
1162:
1160:
1157:
1155:
1152:
1150:
1147:
1145:
1142:
1140:
1139:Manufacturing
1137:
1135:
1132:
1130:
1127:
1125:
1122:
1120:
1117:
1113:
1110:
1109:
1108:
1105:
1103:
1100:
1098:
1095:
1093:
1090:
1088:
1085:
1083:
1080:
1079:
1076:
1073:
1071:
1067:
1057:
1056:Supreme Court
1054:
1052:
1049:
1045:
1042:
1041:
1040:
1037:
1035:
1032:
1030:
1027:
1025:
1022:
1020:
1017:
1013:
1010:
1008:
1005:
1004:
1003:
1000:
998:
995:
993:
990:
988:
985:
983:
980:
976:
973:
971:
968:
967:
966:
963:
961:
958:
957:
954:
951:
949:
945:
935:
932:
930:
927:
925:
922:
920:
917:
915:
912:
910:
907:
905:
902:
898:
895:
894:
893:
890:
888:
885:
883:
880:
878:
875:
873:
870:
868:
865:
863:
860:
858:
855:
853:
850:
848:
845:
843:
840:
837:
833:
830:
828:
825:
823:
820:
819:
816:
813:
811:
807:
801:
798:
796:
793:
791:
788:
786:
783:
781:
778:
776:
773:
771:
768:
766:
763:
761:
758:
756:
753:
751:
748:
746:
743:
741:
738:
736:
733:
731:
728:
726:
723:
721:
718:
716:
713:
711:
708:
706:
703:
701:
698:
696:
693:
691:
688:
686:
683:
681:
678:
676:
673:
669:
666:
665:
664:
661:
659:
656:
654:
651:
649:
646:
645:
643:
641:
637:
633:
629:
622:
617:
615:
610:
608:
603:
602:
599:
581:
577:
571:
556:
550:
535:
531:
525:
517:
513:
507:
492:
488:
482:
467:
460:
446:on 2007-11-23
442:
435:
428:
413:
409:
403:
388:
384:
378:
376:
361:on 2008-06-14
360:
356:
352:
346:
344:
342:
334:
328:
324:
314:
311:
310:
304:
302:
298:
293:
288:
285:
274:
262:
257:
248:
247:
239:
237:
232:
230:
226:
221:
219:
209:
199:
188:
186:
176:
166:
156:
146:
142:
138:
133:
131:
127:
122:
120:
110:
99:
97:
87:
77:
73:
63:
53:
44:
42:
32:
22:
19:
1609:Saudi Arabia
1593:
1514:Oil reserves
1343:Architecture
1248:Demographics
1153:
1092:Central bank
1002:Human rights
982:Constitution
800:War on drugs
775:World War II
760:Cristero War
653:Colonial era
584:. Retrieved
582:. 2017-07-14
579:
570:
559:. Retrieved
549:
538:. Retrieved
536:. 2009-08-10
533:
524:
515:
506:
495:. Retrieved
493:. 2007-06-14
490:
481:
470:. Retrieved
459:
448:. Retrieved
441:the original
427:
416:. Retrieved
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