PEMEX Projects Ku Maloob Zaap Peak In 2013 - At Less Than Half Cantarell's Peak Output - Reuters

[hatrack]

MEXICO CITY, Jan 24 (Reuters) - Mexico expects output from its Ku Maloob Zaap offshore heavy oil complex to continue to rise over the next three years as satellite deposits of crude are developed, according to a government report released on Monday.

Output from Ku Maloob Zaap (KMZ) should peak at 927,000 barrels per day in 2013, up from approximately 850,000 bpd at present, with the start-up of the Ayatsil and Pit satellite fields, Mexico's energy ministry said in its annual forecast of crude oil production. The government previously estimated KMZ would peak around 850,000 bpd but did not include Ayatsil or Pit as part of the project.

The latest forecast assumes output from the KMZ area will start to slowly decline in 2014.

As in previous forecasts the ministry expects oil production to rise from approximately 2.55 million bpd to more than 3 million bpd in the medium term although the projections rely heavily on new production from as-yet undiscovered fields.

EDIT

http://af.reuters.com/article/energyOilNews/idAFN2418388420110124

[GliderGuider]

1. "although the projections rely heavily on new production from as-yet undiscovered fields"

They're reading the same reports as the IEA it looks like...

[hatrack]

2. Or smoking the same bong . . . .

Not sure myself.

[Dogmudgeon]

3. At least Mexico is diversifying its revenues base

Instead of relying on just income from oil, they have developed revenue streams from the narcotics trade and organized crime.

Scaring the piss out of bigoted Anglos in Arizona? Priceless.

--d!

[Nihil]

4. Go on ... post that in GD ..

... and duck!

:spank:

[Dogmudgeon]

5. Why is that bad?

Mexico is being taken over by criminals, at the behest of an an increasingly-corrupt government. I pity the citizens of Mexico.

But the "guest workers" (dragooned migrant labor) can scare the piss out as as many bigots as they want.

--d!

[Nihil]

6. Most of the content of your post was fine ... until I got to this line:

>> Scaring the piss out of bigoted Anglos in Arizona? Priceless.

... then I remembered some of the threads where certain bigots on GD would
repeatedly twist themselves into pretzels to defend the indefensible whilst
attempting not to get banned as the outright racists that they are/were.

You were fine and I agree that the citizens of Mexico are to be pitied for
their unfortunate situation. No offence to you was intended.

[GliderGuider]

7. In a piece on Mexican oil written in 2007

I predicted a Bolivarian revolution in Mexico as the consequence of declining oil production, NAFTA and climate change. I completely missed Mexico's devolution into a narco-state. What I wonder now is whether the suffering imposed on the Mexican people by the drug wars, rather than the issues surrounding corn and global warming, will be the tipping point that ushers in revolution. I still see revolution as the probable outcome.

Mexico: Peak Oil in Action

When contemplating Mexico's future you should always remember her past. Mexican history is full of revolutionary episodes: the War of Independence of 1810; the Mexican Civil War or War of Reform of 1857; the Mexican Revolution of 1910; the Zapatista actions in Chiapas in 1994; and the recent violent confrontations in Oaxaca.

The effect of NAFTA on the lives of the Mexican poor has been devastating. In an echo of the enclosure movement in Britain many have been forced off land they traditionally occupied, either by economic circumstances or legislation. A good overview of Mexican agrarian history, including the impact of NAFTA, is available in this FAO document.

The 100+ year-old push-pull effect of the US economy on Mexican migration is a very well documented historical phenomenon. This time, circumstances are somewhat different. Many Mexican campesinos — subsistence farmers that either owned their own land or held it jointly in a collective called an ejido — were forced off their land due to NAFTA rules that allowed the dumping of highly subsidized, below market-priced US corn on the Mexican market. The land is still there, but now sits idle. In the event of a severe economic downturn there would likely be a large movement to return to the land as well as increased northward migration.

Cantarell's crash and PEMEX's impending bankruptcy present a political crisis of the first magnitude for Mexico's elite and threaten the stability of the small middle class. This crisis presents a great opportunity for the long downtrodden majority to gain power as has happened in Bolivia, Ecuador and Venezuela. Conditions will be ripe for a resurgence of revolutionary sentiment in Mexico, which will probably take the form of an import of the Bolivarian Revolution championed by Hugo Chavez.

Of course, having such an incendiary political movement on their very doorstep will not sit well with the American industrial/political establishment. The probability of direct American political, economic and even military involvement in Mexican affairs as a result should not be lightly dismissed.

[Terry in Austin]

8. Kinda gives devolution a bad name

>>I completely missed Mexico's devolution into a narco-state.

Contrast this with how devolution is going in the UK, where Scotland was recently granted more sovereignty, and very civilized discussion continues about decentralizing even further.

I can just see it now, a fully-devolved North America with widepread local sovereignty: "Let a hundred nations bloom!"

The future lies in everything that hasn't happened yet...

B-)