Pemex’s Proved Oil Reserves Decline for 12th Year in a Row
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Petroleos Mexicanos, Latin America’s largest oil producer, said crude proved reserves dropped for a 12th consecutive year after the company faced delays bringing online new projects.
Proved reserves fell 1.4 percent to the equivalent of 13.8 billion barrels of oil in 2010, the Mexico City-based company said today in a presentation on its website.