Mexico slows decline in oil reserves

5/30/2017 The Washington Post

Oil barrelsMEXICO CITY — Mexico’s government oil commission says the country’s probable and possible oil and natural gas reserves dropped again in 2016, but the pace of decline appears to have slowed.

Unproven but probable reserves known as “2P” decreased 5.7 percent to 16.8 billion barrels of crude equivalent. Unproven but possible reserves known as “3P” were down 1.1 percent to 25.9 billion barrels.

Mexico’s proven reserves of oil and gas had dropped a startling 21 percent in 2015 to 10.24 billion barrels, compared to 13 billion barrels at the end of 2014.

As of Jan. 1, 2017, proven reserves amounted to about 9.2 billion barrels, a drop of about 10.5 percent compared to the previous year.

Read more…

Advertisements

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s