SALAMANCA, March 17 Mexican President Enrique
Pena Nieto announced Sunday that the country's proven
hydrocarbon reserves edged up slightly at the start of 2013
compared with the previous year.
As of January, Mexico's proven hydrocarbon reserves totaled
13.87 billion barrels of oil equivalent (bboe), up 0.4 percent
from 13.81 bboe at the beginning of 2012, Pena Nieto said in a
speech commemorating the 75th anniversary of the expropriation
of the country's oil industry.
The 1938 nationalization gave birth to current state oil
Speaking at a Pemex refinery in the city of
Salamanca, in Mexico's central Guanajuato state, Pena Nieto
added that the sum of Mexico's proven, probable and possible
(3P) hydrocarbon reserves total 44.53 billion barrels of oil
Mexico, the world's No. 7 oil producer, has seen oil
production fall by more than a quarter from a 3.4 million barrel
per day peak in 2004.
Pena Nieto says he will seek a sweeping overhaul of the
lumbering oil giant later this year aimed at attracting private
investment and boosting output.