Mexico Business & Finance News

Puerto Vallarta • Riviera Nayarit 

  News &
Politics
Issues &
Opinions
Business &
Finance
Health &
Evironment
Lifestyle &
Entertainment
Travel &
Outdoors
Science &
Technology

Pemex Discovers Its Richest Oil Field in 15 Years

Sputnik News
go to original
November 4, 2017
Share



Mexico's Pemex Company reported that the new oil field is of great economic importance due to its location next to the existing oil production infrastructure (Reuters/Henry Romero)

Mexican President Enrique Pena Nieto said that Pemex has discovered an oil field that "initial research provides the first reserves estimate of over 1.5 billion oil barrels of oil equivalent, which may mean that the 3P reserve [proven, probable and possible] is 350 million barrels."

Pena Nieto added that the new field was Pemex's largest onshore discovery in 15 years.

The level of Pemex oil production has fallen to its minimum value in more than 20 years. This month, it averaged 1.7 million barrels per day.

According to the Pemex energy company, the field is of enormous economic importance, because it is located next to the existing oil production infrastructure, which will help to develop the field faster.

The President of Mexico also stated that fuel production will be cheap due to the convenient location of the oil field.

Read the rest at Sputnik News

Related: Threats to NAFTA Cast Doubt Over Mexico's Oil Tenders, Investment (Reuters)

Related: Mexico’s New Oil Tender Contracts to Bring $34 Billion Investments (Sputnik)


We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!

CHARITY ALERT Vallarta Botanical Garden Needs Your Help

TripAdvisor singled out the Botanical Garden for removal and placed us on our own page in Cabo Corrientes.

Please write and ask TripAdvisor why all other Cabo Corrientes attractions are still on the Puerto Vallarta page while only the Garden was removed.

Click here to see all the details

Meet the Charities

Community Services

Environmental

Animals & Wildlife

Health Care

Youth & Family

Education

Culture & Recreation

Special Interests

How You Can Help

Use Your Powers for Good

Add Your Favorite Charity

Save a Life - Give Blood

 

Partners for Change

Meet the Partners

Become a Partner for Change

Stay Connected

Find PVAngels on Facebook Follow PVAngels on Twitter Sign up PVAngels Newsletter RSS Feeds on PVAngels


Resources

About PVAngels

Add Your Charity

Add Your News & Events

Locate Yourself on Our Maps

Jobs - Join PVAngels Team

About Puerto Vallarta

Puerto Vallarta Local News

Local Event Calendar

Puerto Vallarta Videos

Puerto Vallarta Photos

Historic Puerto Vallarta

Local Area Maps

Important Phone Numbers

Craig's List in Puerto Vallarta

News Around Mexico

Mexico Issues & Opinions

Mexico Business News

Mexico Evironmental News

Lifestyle & Entertainment

Mexico Travel & Outdoors

Science & Technology News

Mexico News & Travel Videos


FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance a more in-depth understanding of critical issues facing the world. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 USC Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information click here. If you wish to use copyrighted material from this site for purposes that go beyond 'fair use', you must obtain permission from the copyright owner.

m3 • local actions from global awareness