Mexico announced a reduction of hydrocarbon reserves

© AP Photo / Dario Lopez-MillsНефтедобывающая platform in the Gulf of Mexico. Archival photoMexico announced a reduction of hydrocarbon reserves© AP Photo / Dario Lopez-Mills

The national Commission of hydrocarbons of Mexico has published data showing that proven, probable and possible reserves (3P) of hydrocarbons in the country decreased by 1.1% compared with the year 2016.

According to the Commission, on January 1 of the current year the volume of inventory in barrels of oil equivalent was of 25.86 billion barrels, and at the beginning of last year this indicator was at the level 26,14 billion.

Thus in terms of oil reserves 3P increased by 2.7 percent, but it kompensiruet serious decline in gas reserves – just 11.1%.

In part proven and probable reserves (2P) drop fixed as oil (3.2 percent) and Gaza (12.4 per cent). Total reserves according to the classification of estimated 2P 16.77 billion barrels of oil equivalent, while in 2016 they were made of 17.79 billion barrels (minus 5.7 percent).

Mexico is one of the world’s major oil producers with production at about 2 million barrels a day. The trends of recent years has led to a reduction of production, although 10 years ago the oil company Pemex has reached a record 3.38 million barrels of production a day. Now the authorities are trying to reverse the situation and ensure production growth.