CGTN America
While southern Texas continues to boom with shale exploration and natural gas production, Mexico’s richest shale deposits are sitting idle. That may not last as Mexico moves to open its oil and gas industries to private investment.
CCTV America’s Ginger Vaughn reports.
Mexico is one of the 10 biggest oil producers in the world, and the third largest in the Americas following the U.S. and Canada.
According to the industry publication Oil & Gas Journal, Mexico has 10 billion barrels of known oil reserves. A U.S. government study estimated Mexico has the sixth largest recoverable gas and shale resources of any country in the world. That would be enough to supply the world’s greatest energy consumer, the United States, for about 21 years.
