Mexico Must Invest to Produce Crude

Mexico (Prensa Latina) The Mexican Oil Enterprise (PEMEX) will have to invest between eight and nine billion dollars additionally a year to just maintain crude and natural gas production, asserted an official from that branch.

For this purpose the entity find a way to increase its own resources, said Mario Gabriel Budebo, Energy Secretariat Hydrocarbon Deputy Director, in declarations to the press.


The director explained that in order to achieve this it is necessary to engage a comprehensive fiscal revision so the nation can have more public income.

PEMEX has reported that among the countries with most proven oil reserves, Mexico fell to 15th place in the world last January, coming from the seventh it held in 1995, due low restitution of deposits.

Prensa Latina