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Page added on February 26, 2012

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Mexico Exceeding 100% Reserve-Replacement Rate, Calderon Says

Production

Petroleos Mexicanos’ proven reserve replacement rate now exceeds 100 percent, meaning the Mexican state-owned oil company is replacing every barrel of oil it extracts with at least one new barrel of reserves, President Felipe Calderon said today.

Calderon made the comment at a ceremony to start operations of the Bicentenario semi-submersible oil platform, according to a transcript e-mailed by his press office.

Bloomberg



7 Comments on "Mexico Exceeding 100% Reserve-Replacement Rate, Calderon Says"

  1. DC on Sun, 26th Feb 2012 11:21 pm 

    And I got a great deal on a bridge I would like to sell you. Call me, you cant lose.

  2. MrEnergyCzar on Mon, 27th Feb 2012 12:32 am 

    Mexico is collapsing… it reminds me of when that Iraq official said the Iraqi military was in control and a tank with a U.S. flag on it drove behind him…

    MrEnergyCzar

  3. BillT on Mon, 27th Feb 2012 1:16 am 

    What a piece of BS! Their oil fields are below domestic use or close. They will be importing soon and one more supplier to the US will be gone.

  4. Kenz300 on Mon, 27th Feb 2012 5:12 am 

    Is there any oil producing country that does not fudge their reserve numbers?

  5. Anvil on Mon, 27th Feb 2012 10:48 am 

    Mexico was the 3 largest oil exporter to the USA in 2008. Mexico now no longer exports oil as 2012 were is the USA going to make up supply? IRAN you fools.

  6. Windmills on Mon, 27th Feb 2012 3:31 pm 

    Like EROEI, Export Land is still a black swan to your average journalist or energy analyst.

  7. Bob Owens on Mon, 27th Feb 2012 7:26 pm 

    We basically have a civil war in Mexico. Hopefully it won’t spill over into the US. This is a bad situation and we don’t have a clue.