Mexico's Pemex plans to reopen wells to boost declining production, documents and sources show
ReutersMay 8, 2025 9:12 PM
MEXICO CITY, May 8 (Reuters) - Mexican state energy company Pemex plans to reopen old wells in a bid to squeeze more barrels out of them to boost declining production, according to two documents and four sources, as it struggles to reach an ambitious government target.
Earlier this week, Pemex said in a filing to the United States Securities and Exchange Commission that it expects production to fall to 1.58 million barrels per day (bpd) this year rather than the 1.8 million bpd officials have consistently touted.
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