Friday, March 19, 2010 10:18 PM
MEXICO CITY, Mar. 19, 2010 (Xinhua News Agency) -- Mexico's crude proved oil reserves stabilized last year at about 10.4 billion barrels, state-owned energy giant Petroleos Mexicanos (Pemex) said on Friday.
It was the first time that the country's proved oil reserves stabilized in the past decade, Mexico City-based Pemex said.
The company's oil fields in the country's southeastern regions have provided about two thirds of the nation's oil production for years.
Mexico's oil production has been declining since 2005 with daily output down 21.8 percent from 2.6 million barrels five years ago.
(Source: iStockAnalyst )
Review: http://www.istockanalyst.com/article/viewiStockNews/articleid/3963853
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