Exploring Hydrocarbon Depletion
NEW! Members Only Forums!
Access more articles, news & discussion by becoming a PeakOil.com Member.
Page added on February 26, 2012
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.