Mexican Oil Supplies Down Also
August 8th, 2006 at 12:03 am
August 8th, 2006 at 12:03 am
I’m surprised I didn’t catch sooner, but the LA Times isn’t in my read list. 
Before BP’s leaky situation in Alaska, the LA Times reported that the PEMEX Cantarell oil complex in Mexico will miss its target by 7%. In 2004 production was as high as 2.1 million bbls/day.
The company has done extensive maintenance on Cantarell to keep the oil flowing. In a December 2005 statement, Pemex predicted that the field will produce an average of 1.9 million barrels a day in 2006, a modest 6 percent drop from 2005, followed by double-digit annual declines that will reduce average production to 1.4 million barrels daily in 2008.
This is somewhat good news for HAL which may expect more work in the region, but the reserves have to be there to make our premium services pay out. I don’t have any experience working for PEMEX, but I’m curious how much of this problem can be attributed to single-owner management.
This appeared on my radar because a VDARE post highlights that the oil field collapse may spell even more immigration.
Doc Brown, where is that Mr. Fusion?
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