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Mexico regulator rejects Pemex oil reserve estimate

Reuters, 19 November 2010

Mexican regulators rejected a huge chunk of state oil monopoly Pemex's estimate of how much oil and gas the country has, calling into question the long-term sustainability of the industry. The National Hydrocarbons Commission ordered Pemex to produce more evidence to back up its claims of probable and possible oil and gas reserves in its northern region, in a ruling dated Sept. 30 but published on its website on Friday.

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