Economy & Business - August 2007 (ISSN 1741-4431)

The state-owned oil monopoly Petróleos Mexicanos announced on 25 July that it would run out of oil in seven years. This year the country's two main oil fields Cantarell and Koo-Maloob-Zaap, which produce 60% of the country's total oil, will pump out an average of 2.048m bpd, which amounts to roughly US$110m a day at current oil prices.