A number of projects in the field of oil production in Mexico may not be realized due to the fall in world oil prices
December 1, 2014
A number of projects in the field of oil production in Mexico can not be realized due to the fall in world oil prices, said on Friday Finance Minister Luis Videgaray Latin American country. "If the oil price will be low for a few months, that is, projects that are not implemented, there is a very costly new exploration projects in the fields that will be suspended," - said Videgaray on Radio Imagen.
OPEC on Thursday, meeting in Vienna has decided to maintain the current quota for oil production of 30 million barrels per day to June 2015. Markets reacted to the decision to lower oil prices. The famous Mexican oil analyst Fluvia Ruiz told RIA Novosti on the eve of that as a consequence of reduction in oil prices in the near future we can expect some problems with the development of new fields in complex geological areas, for example, deep-water deposits. According to him, such works require large investments, funds for which were in the period of high oil prices, but now these projects are losing their appeal.
At the same time, Mexico's Finance Minister said that the country's budget for the 2015 decline in oil prices will not mean a reduction in income. "The Mexican government bought the insurance, which were invested our stabilization funds, and it allows us to protect the price of oil to $ 79 per barrel," - said Videgaray. Mexico budget for next year is calculated on the basis of a price of a barrel of Mexican oil.
December 1, 2014
RIA "Novosti"