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2016-04-05 18:25:00

MEXICO'S RESERVES DOWN 21%

MEXICO'S RESERVES DOWN 21%

 

 

MEXICO OIL GAS MAP

Mexico's proven oil and gas reserves dropped 21.3 percent in 2015, the oil regulator said on Thursday, as the state-run oil company, Pemex, cut back on investment because of plunging crude prices.

Proven reserves, known as 1P, fell to 10.242 billion barrels of oil equivalent, or boe, as of Jan. 1, down from just over 13 billion the prior year, according to the National Hydrocarbons Commission, or CNH.

The new estimate for so-called 1P certified reserves was set on Jan. 1, 2016, and covered oil and gas fields believed to have a 90 percent chance of being extracted with existing technology.

Proven reserves of crude oil fell 21.3 percent to 7.6 billion barrels, while reserves of gas fell 17.3 percent to 12.7 billion cubic feet, according to the CNH data.

While Pemex remains the country's only oil and gas producer, a sweeping energy overhaul finalized in 2014 ended the company's nearly 80-year-old monopoly and private firms are expected to enter the market for exploration and extraction in coming years.

Due to a prolonged rout in global oil prices, Pemex said last month it would put billions of dollars worth of projects on hold, including those focused on exploration. 

reuters.com

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More: 

MEXICAN OIL UPDOWN 

PEMEX WILL SPEND $23 BLN 

MEXICO GAS DEMAND UP 

TOP 10 OIL COMPANIES 

MEXICO SLASHES GROWTH

 

 

Tags: MEXICO, OIL, GAS, PRICES, RESERVES, PEMEX

Chronicle:

MEXICO'S RESERVES DOWN 21%
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

MEXICO'S RESERVES DOWN 21%
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

MEXICO'S RESERVES DOWN 21%
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

MEXICO'S RESERVES DOWN 21%
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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