Mexico’s proven reserves down 2.7% to 14.3 bil boe

Mexico’s proven reserves of crude and equivalent stood at 14.3 billion barrels on January 1, down 2.7% on the year-earlier reserve level, President Felipe Calderon said Wednesday.

The decline was Mexico’s lowest in at least five years and marked a sharp increase in the country’s reserve replacement rate, said Calderon at a rally to mark the 71st anniversary of the Mexican oil industry.
Petroleumworld