Mexico’s state-owned oil giant just announced a major discovery that could transform the country’s struggling industry
|10/10/2018||Posted by BusinessMediaguide.Com under General World News||
- Mexico’s state-owned oil producer Pemex announced Tuesday that it had discovered roughly 180 million barrels of oil in the Gulf of Mexico.
- The so-called proven, probable, and possible (3P) reserves could support Mexico’s oil output, which has been in decline since 2004.
- Mexico would need between $7 billion and $10 billion in capital, including investments in oil rigs and pipelines to develop the newly announced discovery, Pemex said.
Pemex, Mexico’s state-owned oil producer, said on Tuesday that it had discovered about 180 million barrels of oil offshore.
The reserves could boost Mexico’s oil output, which has been in decline since 2004.
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