Mexico’s proven oil reserves up 2% to reach more than 8 bln barrels

Mexico's oil regulator said the country's total proven oil reserves as of Jan. 1 stood at 8.062 billion barrels of oil equivalent (boe), up 2.1% from a year earlier.

Oil reserves as of the beginning of 2019 totaled 7.897 billion boe. Proven oil reserves are certified discoveries containing a combination of liquid and gaseous hydrocarbons that can be expected to be produced once a development plan has been started.

The oil regulator, the National Hydrocarbons Commission, or CNH, said 2020 proven oil reserves totaled 6.347 billion boe, while natural gas reserves reached 9.286 trillion cubic feet.

The proven oil reserves were up 4.6% while the natural gas reserves dipped 3.8%, according to the CNH data.