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Articles: PEMEX (2)

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If Mexico is the next Brazil in oil production, brace for disappointment

Recent reforms would open oil exploration and development in Mexico to major oil companies for the first time in decades. But it's instructive to look at what actually happened in Brazil since the time its potential as a major new oil producer was touted several years ago under similar …

Aging giant oil fields, not new discoveries are the key to future oil supply

With all the talk about new oil discoveries around the world and new techniques for extracting oil, it would be easy to miss the main action in the oil supply story: Aging giant fields produce more than half of global oil supply and are already declining as group.