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Mexico's Oil Aspirations Outlined

12 September, 2012

Mexico will seek to regain its position as a global leader in oil production,
announced President Felipe Calderón at the opening of the 2009 Mexican Petroluem
Conference in Boca del Río,Veracruz,last week.

The premier said that
the petroleum industry will continue as the driving force that allows Mexico to
be a "modern,developed and competitive country".

He added,"Our
objective is very clear,we are going to recover the leadership position that
Mexico,by right,merits in the world as a petroluem power. Because,like this,
we can boost the growth and development of our country in the coming
decades."

The President and other industry leaders went on to reiterate
their commitment to the reforms that are necessary for the sector to flourish
and power Mexico's economy.

Talking about the state oil company,Pemex,
Calderón highlighted that,despite the global financial crisis,investment in
the company's infrastructure increased from about $12.7 thousand million in 2007
to $15.1 thousand million in 2008.

He added that an investment of $16.9
thousand million has already been authorized for 2009 and that this will help it
become "a fundamental pillar in Mexico's economic growth."

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