MEXICO
Among non-OPEC LDCs, Mexico has the brightest prospects for substantially increasing petroleum output. President Lopez Portillo and his chief advisers are convinced that increased petroleum and natural gas exports are necessary and have approved an ambitious investment program for Pemex, the state oil company. The reserve base itself is large and promises to increase sharply as new discoveries are made. Pemex is rapidly developing this potential; an even more rapid development is possible if financial constraints can be overcome and if Lopez Portillo undertakes an all-out effort.
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