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Mexico's oil and gas reserves slip in 2016

Wednesday, May 31, 2017

Mexico's oil and gas reserves fell last year as fewer discoveries of gas deposits offset a rise in additional crude reserves, the sector regulator said on Tuesday.

Overall so-called 2P hydrocarbon reserves, or deposits considered proven and probable, fell nearly 6 percent in 2016 to total 16.77 billion barrels of oil equivalent, compared to 2015 figures, regulator CNH said.

There is a 50 percent likelihood of commercial recovery of 2P reserves using existing technology.

Source: Reuters