A massive discovery in Mexico could mark the dawn of a new oil boom

06/16/15 Business Insider

energy - oil barrelsThe Mexican state-owned oil company Petroleos Mexicanos, or Pemex, says it has discovered one of the most copious group of oil fields in the shallow waters of the Gulf of Mexico, its largest such discovery in five years.

The five fields, situated off the states of Campeche and Tabasco, have total proven, probable, and possible reserves that may be as high as 350 million barrels of crude oil equivalent and could produce as much as 200,000 barrels a day, Pemex CEO Emilio Lozoya told an energy conference in Guadalajara on Wednesday. He called the find an “achievement … of great magnitude.”

Read more…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s