Bloomberg News

Mexico Exceeding 100% Reserve-Replacement Rate, Calderon Says

February 26, 2012

Petroleos Mexicanos’ proven reserve replacement rate now exceeds 100 percent, meaning the Mexican state-owned oil company is replacing every barrel of oil it extracts with at least one new barrel of reserves, President Felipe Calderon said today.

Calderon made the comment at a ceremony to start operations of the Bicentenario semi-submersible oil platform, according to a transcript e-mailed by his press office.

To contact the reporter on this story: Randall Woods in Santiago at

To contact the editor responsible for this story: Joshua Goodman at

American Apparel's Future

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

blog comments powered by Disqus