Pemex’s Proven Reserves Gain for Second Year After Discoveries

Petroleos Mexicanos, the state-owned company, posted a gain in its proven reserves for a second year, supported by discoveries in the Gulf of Mexico and onshore.

Mexico’s reserves rose 0.4 percent to 13.868 billion barrels as of Jan. 1 from 13.81 billion a year earlier, Mexican President Enrique Pena Nieto said today on the 75th anniversary of the state-owned company. Last year, reserves rose 0.1 percent, the first gain in more than a decade.