Mexico’s Pemex sees oil production decline

New U.S. government numbers suggest why Mexico has moved so aggressively to open its domestic oil-and-gas market to foreign investment for the first time in modern history.Last year, Mexico produced 2.9 million barrels per day bpd of petroleum liquids, a 25 percent decline from its 2004 high of 3.85 million bpd, according to the U.S. Energy Information Administration, the Energy Department’s statistical arm.What’s more, the country’s estimated April crude oil — which accounts for an 85 percent of its liquids production — of 2.5 million bpd is its lowest monthly average since 1995, according to the EIA numbers released today.

via Mexico's Pemex sees oil production decline – Houston Business Journal.

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