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    Mexico May Hike Oil Output to 2.9Mln Barrels Daily Surpassing Venezuela, Brazil

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    Unlocking new oil fields could boost Mexico’s production to a daily 2.9 million barrels in the next decade, the head of the National Hydrocarbons Commission (CNH) said Monday.

    MEXICO CITY (Sputnik) — Earlier in the day, Mexico awarded nine contracts to drill for oil at deep-water fields in the Gulf of Mexico, including at the so-called Trion block.

    "Additional production that these eight contracts and Trion will give Mexico is expected to add roughly 900,000 barrels a day on top of the existing production after the projects are past theIR exploration and development phase," CNH’s Juan Carlos Zepeda told reporters at a conference.

    Mexico is the world’s twelfth largest oil producer. It extracts around 2 million barrels a day – less than Venezuela’s 2.3 million barrels or Brazil’s 2.6 million – although its production reached a record 3.38 million ten years ago.


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