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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (85855)2/1/2001 8:21:17 AM
From: Second_Titan   of 95453
 
CA is looking to Mexico for Help?

Mexican Oil Industry Needs 180 Billion Dollars in
Investment

MEXICO CITY, Jan 31 (Reforma/Infolatina via COMTEX) - Mexico's
state-owned oil industry needs around 180 billion dollars in investment
over the next 10 years if current crude production levels are to be
maintained, according to Mexican Academy of Oil Engineers President
Guillermo Dominguez Vargas. The amount is roughly double the
figure projected by the government. Dominguez said around
two-thirds of all investment in the Mexican oil industry over the next
decade must be in exploration and production. Mexico is the world's
fifth-largest producer of oil. "It really is crucial that we invest more in
exploration and production," Dominguez said.
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