MEXICO CITY — Mexican officials announced on Thursday, March 18th, they have found an oil field with possible reserves of 500 million to 600 million barrels, but President Andrés Manuel López Obrador vowed not to pump more than 2 million barrels per day nationwide, the amount he says is needed to supply domestic demand.
“This new policy means not pumping more oil than is needed to cover domestic demand for fuels,” López Obrador said. “In quantitative terms, this means that during our administration we will not pump out of the ground more than two million barrels per day.”
In part, that is wishful thinking. The state-owned oil company Petroleos Mexicanos, or Pemex, currently produces only about 1.75 million barrels per day.
But Pemex Director Octavio Romero said the newly identified onshore Dzimpona 1 deposit, located in the Gulf coast state of Tabasco, should help the company boost daily production to 2 million barrels by the end of this year.
He said Mexico’s proven total reserves, which had fallen from 16 billion barrels in 2006 to 7 billion when López Obrador took office Dec. 1, 2018, have slowly recovered to about 7.4 billion barrels and should reach 7.8 billion by the end ofg 2021.
Romero also revealed Pemex has been widely delaying payments to its suppliers and contractors. He acknowledged the problem has become so bad that some suppliers have turned to bribing officials or turning to hiring middlemen to try to get paid for work they have done.
Romero urged business owners to have confidence that Pemex will eventually pay its debts, and announced a public website of payments, to stem a flood of public information requests from people waiting to get paid.
“Businessmen, have absolute confidence that Pemex will fully honor its commitment and pay all its debts,” Romero said.
The Yucatan Times Newsroom
more recommended stories
Mérida City Council firm in the fight against the effects of climate change
Mérida, Yucatán, (July 31, 2021) .-.
State police seize drugs during a search operation in southern Mérida
Mérida, Yucatán, (July 31, 2021).- As.
‘Queso de Bola’ Fair coming to Mérida August 14th and 15th
MÉRIDA, Yuc., (July 30, 2021) .-.
Octopus season, light of hope for the fishermen of Yucatán
Mérida, Yucatán, (July 30, 2021).- The.
Sentimental couple of German citizen is arrested for alleged femicide
QUINTANA ROO, (July 30, 2021).- A.
New Software Catches Politicians When They Are Wasting Time On Their Phones During Session
A digital artist created the software,.
After 4 months, Xcaret Group refuses to provide information on the death of 13-year-old Leo
Chetumal, Quintana Roo, (July 30, 2021).
Renowned Yucatecan journalist Enrique Vidal, dies at 81
Mérida, Yucatán, (July 30, 2021).- This.
Mexico and Central America on alert for African swine fever outbreak
The International Organization for Agricultural Health warned.
According to INEGI, Covid-19 is the second cause of death in Yucatan and Campeche
Mérida, Yucatán, (July 30, 2021) .-.