Mexico’s proven reserves down 2.7%: Calderon

摘要

Mexico City—Mexico’s proven reserves of crude and equivalent stood at 14.3 billion barrels on January 1, down 2.7% on the year-earlier reserve level, President Felipe Calderon said on March 18.The decline was Mexico’s lowest in at least five years and marked a sharp increase in the country’s reserve replacement rate, said Calderon at a rally to mark the 71st anniversary of the Mexican oil industry.