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 News Around the Republic of Mexico | June 2008 
Mexico May Boost Its Crude Output Next Year
 MENAFN
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The Mexican Energy Minister said in an interview that her country may increase crude production to 3 million barrels per day (bpd) next year as state-owned Petroleos Mexicanos (Pemex) pumps more oil to make up for the biggest drop in output in 12 years at its largest field, Reuters reported.
The government needs to raise Pemex's budget 66 percent to $30 billion annually to help it maintain production goals of 3 million to 3.1 million bpd of crude through 2012, she said.
The 2009 increase would mean a 4.3 percent jump in output from this year's average of 2.875 million barrels a day.
Pemex's production has been falling for four years as its largest field, Cantarell, led a decline in output. Cantarell, the world's third-largest oil field, represented 63 percent of Pemex's output at its peak in December 2003. |
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