According to Reuters article published on May 2, 2023, Mexico's oil regulator said on Tuesday the country's total proven oil and gas reserves rose nearly 2% to reach 8.162 billion barrels of crude oil equivalent, up from 8.014 billion barrels a year ago.
The National Hydrocarbons Commission, or CNH, also reported crude oil reserves up slightly at 6.155 billion barrels, from 6.059 billion boe reported last year, while gas reserves rose to 11.029 trillion cubic feet (bcf) from 10.781 trillion bcf a year earlier.
The oil regulator's annual reserves data show the amount of reserves added though new, certified oil and gas discoveries while also accounting for ongoing production that counts against the country's remaining hydrocarbons.
The data brings together the reserves of state-owned oil company Pemex (PEMX.UL), the largest Mexican oil and gas producer, along with both domestic and foreign producers that entered the market after a decade-old energy opening that allowed them to operate their own fields.
Prior to the 2013 constitutional reform, only Pemex could explore for and produce oil and gas.
