Puerto Vallarta News

Puerto Vallarta News

Mexico must double oil exploration spending to halt output fall

Mexico must double oil exploration spending to halt output fall

Reuters By Marianna Parraga and David Alire GarciaACAPULCO, Sept 28 (Reuters) - Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said Friday.The nation's oil industry needs Petroleos Mexicanos to invest more than $2.5 billion per year and another $1 billion to $1.5 billion from private companies to fully replace its reserves, Jose Antonio Escalera, the firm's chief of exploration . . .

Related Posts

Riu Ventura Cancun

Jobs and Zero Waste is the promise of new Riu Ventura Cancun

Cancún officials hail the opening of Riu Ventura Cancun as proof tourism growth can support...
Solar kiosk Los Cabos

First solar kiosk in Los Cabos lights up remote village

With a new solar kiosk, the remote community of La Candelaria finally gets reliable power...
Cancun armed attacks

Seven armed attacks shake Cancún in less than 24 hours

In less than a day, seven armed attacks across Cancún left several people dead or...
Mismaloya municipal delegation

Puerto Vallarta’s council elevates Mismaloya to municipal delegation

Puerto Vallarta’s council elevates Mismaloya from municipal agency to its seventh delegation, granting long-requested recognition...