PEMEX CEO - Proven Reserves Fell 5.1% In 2007, Replacement Rate 50% - Rigzone

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DOS BOCAS, Mexico (Dow Jones)--The chief executive of Mexican state oil monopoly Petroleos Mexicanos, Jesus Reyes Heroles, said Tuesday Mexico's proven hydrocarbon reserves fell 5.1% last year to 14.7 billion barrels of crude oil equivalent. Speaking at an event to mark the 70th anniversary of the expropriation of the Mexican oil industry, Reyes Heroles said Pemex replaced proven reserves at a rate of 50% last year, compared with 41% in 2006, but that it was still short of its goal of reaching 100% replacement.

EDIT

http://rigzone.com/news/article.asp?a_id=58467

Very short article.