(Energy Analytics Institute, Jared Yamin, 23.Apr.2019) — Mexico’s combined proved crude oil and natural gas reserves (1P) have dwindled down to 7.9 billion barrels of oil equivalent (BOE) as of January 2019 compared to the slightly more than 34 billion BOE on record in 1999.
The most current combined reserve figure is a mere 23% of the figure reported two decades ago, online media El Financiero reported on 23 April 2019.
Although Mexico’s reserves have remained in a constant decline over the 20 year period, the most recent figure, revealed by Mexico’s National Hydrocarbons Commission (CNH by its Spanish acronym) on 12 April, is the lowest point during the period.
Related Story: CNH Reports 6.9% Drop In Mexico’s Combined 1P Reserves
“Reversing this fall is the biggest challenge facing the oil industry,” reported El Financiero, citing Mercury Consultant Arturo Carranza.
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