Consultants - As Cantarell Collapses, Between 9 & 13 Years Of Domestic Oil Supply Left For Mexico

[hatrack]

EDIT

According to experts, the recent Petroleos Mexicanos Oil Company estimations of a 14 percent reduction in the total oil production over these next six years leaves no room for doubt.

This is a somber dark overview because the local economy grew at a higher rate than the Latin American average, thus they need to encourage investments, meet the internal demand, and diversify exports.

International Consultant company analysts associate the reduction in hydrocarbon production to the exhaustion of Cantarell, the largest oilfield in Mexico, the output of which has decreased over 26 percent in the two most recent years.

They warned that at the current pace of exploitation, if another vein like Cantarell does not appear, this country will only have oil to maintain between nine and 13 years at present usage levels.

EDIT/END

http://www.plenglish.com/article.asp?ID=%7B6C63BD4E-6431-4421-9965-9EDAD8ADEC39%7D%29&language=EN

[Skink]

1. Maybe they'll lay claim to all that gulf oil.

[philb]

4. Who decides who owns the oil in the Gulf of Mexico off Mexico & U.S.

Apparently countries like Cuba, Dominican Republic, Jamaica, etc. are also interested in this issue.

[4dsc]

2. Or looking at it this way

in 5 years, the US will be looking to replace about 1,000,000 barrels per days of Mexican oil production. Along with decreasing exports from other countries will leave us in a world of hurt, IMHO!!

But hey, so long as we can buy gas today why worry about tomorrow.

[depakid]

3. Puts a whole new meaning on No Va