(Corrects timing of reserve losses in first paragraph.)

Petroleos Mexicanos, Latin America’s largest oil producer, posted a gain in its proven reserves for the first time since at least 2000 boosting the country’s replacement rate to 101.1 percent, said Carlos Morales, Pemex’s head of exploration and production.

To contact the reporter on this story: Carlos Manuel Rodriguez in Mexico City at carlosmr@bloomberg.net

To contact the editor responsible for this story: Robin Saponar at rsaponar@bloomberg.net