The Oil Drum: Trouble South of the Border — Mexico’s Oil Production

In April of this year, Mexico’s president Vincente Fox announced a
major new discovery in the Gulf of Mexico by the state-owned oil
company Petroleos Mexicanos (PEMEX). This new field, announced
a scant few months before Mexico’s national presidential elections, was
said to contain a potential URR of 10 Gb (billion barrels) of oil.

I had wanted to do a story on PEMEX and Mexican oil production. What was the story? I knew from the discoveries trend that finding a field of this size is now rare, a statistical outlier. So, I waited.
This story gives some detail about the current state of Mexican oil production and its possible effects both south of the Rio Grande and here in the United States.

Much more after the jump to The Oil Drum.

The Oil Drum