Pemex Proven Reserves May Drop for 11th Straight Year

Nov. 17 (Bloomberg) — Petroleos Mexicanos, the state-owned oil company, said proven reserves of crude-oil equivalent may drop for an 11th straight year as existing fields dry up and discoveries are smaller than expected.

Proven reserves may decline 2.8 percent to 13.9 billion barrels this year, Vinicio Suro, director of planning at Pemex

Pemex, as the Mexico City-based company is known, hasn