Mexico Positioned For A New Petroleum Boom
Feb. 19, 2014
by JM Editors
Mexico has an estimated 10.26 billion barrels of proven oil reserves, and this carbon-rich country has the sixth largest shale gas reserves in the world. Yet oil production has been declining for ten years, mostly due to the corruption and inefficiency of the state oil monopoly, Pemex.
Now, reforms passed by the country’s new President promise to open the industry to foreign firms, and the changes are expected to attract some $20 billion in foreign investment by companies like Chevron, ExoonMobil, ConocoPhillips and Anadarko Petroleum.
Read the infographic on Mexico's pending oil revival at The Oil and Gas Post...