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Pemex boosts E&P budget



By Upstream staff 

Mexican state oil company Pemex expects capital expenditure to hit $16 billion in 2007, a senior executive said.

Chief financial officer Esteban Levin Balcells said $12.3 billion of this would go to Pemex's E&P activities, with the rest being spent downstream.

Pemex said in June it would spend $13 billion on capital expenditure this year, BNAmerica said.


Tuesday, 07 November, 2006, 18:43 GMT  | last updated: Tuesday, 07 November, 2006, 18:43 GMT

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