Oil Production
President Lázaro Cárdenas expropriated foreign oil companies in the late 1930s. Since then, Pemex, the national company produces oil in Mexico. Main fields are Chicontepec Field, Cantarell Field and Ku-Maloob-Zaap. In 2008, oil production has declined 9,2% to 3,96 millions barils a day while natural gas production increased 14,2% to 6,92 cubic feet.
According to IEA Mexico was one of the top oil producers in 2009. Top oil producers in 2009 were (Mt): Russia 494 Mt (13%), Saudi Arabia 452 Mt (12%), US 320 Mt (8%), Iran 206 Mt (5%), China 194 Mt (5%), Canada 152 Mt (4%), Mexico 146 Mt (4%), Venezuela 126 Mt (3%), Kuwait 124 Mt (3%) and United Arab Emirates 120 Mt (3%).
Read more about this topic: Energy In Mexico
Famous quotes containing the words oil and/or production:
“I bade, because the wick and oil are spent
And frozen are the channels of the blood....”
—William Butler Yeats (1865–1939)
“Perestroika basically is creating material incentives for the individual. Some of the comrades deny that, but I can’t see it any other way. In that sense human nature kinda goes backwards. It’s a step backwards. You have to realize the people weren’t quite ready for a socialist production system.”
—Gus Hall (b. 1910)