Mexico at Peak Oil

Released last week by Pemex, the national oil company of Mexico, an indication that Mexico’s most significant oil field, Cantarell, has reached peak production. [Hat tip: The Oil Drum]

In the first five days of december of this year, total prodcution from Cantarell complex was 2.008 millons of barrels per day, representing a 59% of national (mexican) production.

The estimation from our models… indicates that the production levels in the Cantarell complex will be aprox 1.905 millons of barrels per day by 2006. This magnitude is 6 % less than 2005 production of 2.032 mbd, and it is consistent with previous projections showed by PEMEX. For 2007 and 2008 estimated productions are 1.683 and 1.430 mbd, respectively.”

FYI Canada, Mexico, Venezuela and Saudi Arabia are the largest exporters of crude oil and refined products to the United States. Increased demand and lower production (Mexico and the US itself) mean that the demand on countries with spare capacity (Canada and Saudi Arabia) will only increase.