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Saturday, April 30, 2011

Mexico Could Be Net Oil Importer Within 10 Years

From the Oil and Gas Journal:
Without sufficient investments in oil field development and the use of new, advanced technologies, Mexico faces becoming a net oil importer in 10 years.

Mexico’s oil production peaked at about 3.9 million b/d in 2004. Since 2005, output has fallen by more than 25% to 2.98 million b/d in 2010.

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