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

Cabo bike zipline

Cabo bike zipline claims Guinness record at 339 meters

Cactus Tours says its Sky Bikes ride in Cabo San Lucas is now Guinness-certified at...
puerto vallarta airport

Puerto Vallarta flights to San Diego and St. Louis in 2026

Puerto Vallarta flights to San Diego and St. Louis start in March 2026, adding new...
Puerto Vallarta New Year

Puerto Vallarta New Year party lights up the Malecón

Puerto Vallarta New Year festivities return to the Malecón on Dec. 31 with mariachi, cumbia,...
Tren Interoceánico

Interoceanic train derailment leaves 13 dead in Oaxaca

Interoceanic train derailment in Oaxaca left 13 dead and 109 injured. Officials say 44 remain...