Alva Review-Courier -

Mexico president-elect: $16 billion to boost oil output

 


MEXICO CITY (AP) — Mexico's president-elect announced a $16 billion investment plan Friday to boost flagging oil production, refinery capacity and electrical generation.

Andres Manuel Lopez Obrador said Friday the country must act "urgently" to reverse a decline that saw crude output drop to 1.88 million barrels per day in the first half of 2018, down from 3.4 million barrels per day in 2005.

Lopez Obrador pledged to increase production by 600,000 barrels per day in two years. He said about $9.5 billion in investment would be made in 2019, with more in ensuing years to upgrade existing re...



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