Mexico targets 50 percent jump in oil output, says Petroleos MexicanosStaff Writer | December 17, 2018
Mexico aims to lift oil and gas production by almost 50 percent in the next six years and in January will award infrastructure and drilling contracts to develop 20 fields, state oil firm Petroleos Mexicanos said.
LatAm Octavio Romero, chief executive officer of Pemex
"It's a new Pemex rescue," Lopez Obrador said alongside Romero in the port of Ciudad del Carmen in the southern Gulf of Mexico shortly before his government was due to present its first budget with Pemex's finances under close scrutiny.
Under the plan, Mexican crude output is due to climb to some 2.624 million barrels bpd by the end of 2024, while gas production will also rise by about 50 percent. ■