Weekly Report - 8 February 2007

MEXICO | Pemex. The oil monopoly, Petróleos Mexicanos (Pemex) will invest M$140bn (US$12.73bn) in 2007, its president, Jesús Reyes Heroles said. Reyes Heroles also admitted that the country's main oilfield, Cantarell, would see its average production decline by 262,000bpd in 2007. This is a rather bigger drop than the company was forecasting just two months ago.