The Oil Drum | DrumBeat: March 8, 2007

144 comments on DrumBeat: March 8, 2007

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Leanan on March 8, 2007 - 10:20am

This article is behind a paywall, but it looks interesting, if someone has a subscription:

Pemex Defends Deepwater Potential

With allegations surfacing in the Mexican press this week that state-owned oil and gas monopoly Pemex overestimated its much-touted deepwater and ultra-deepwater reserves, analysts and oil professionals are once again casting heavy scrutiny on the validity of the company's assertions.

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Leanan on March 8, 2007 - 5:49pm

Well, Dante had some light to shed on this story:

Estimates of offshore reserves were reduced by 60%, per El Universal on March 3.

I gather that even the reduced estimate would not meet US standards for proven reserves.

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DelusionaL on March 8, 2007 - 6:49pm

they want someone else to spend the cash so they don't have to? No cuts to the government income? hmmmm....

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144 comments on DrumBeat: March 8, 2007

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