Mexico’s giant oil find is no miracle cure for ailing Pemex

Even as Mexico’s president and Pemex’s CEO touted the country’s most important find in three decades, it appears to be far from a panacea for the beleaguered state driller.

Pemex called the Quesqui deposit — which is believed to contain 500 million barrels of proven, probable and possible, or 3P reserves — the most important discovery since 1987. Another onshore field Ixachi discovered during the previous administration was touted as the largest find in 25 years, with some 1.3 billion barrels of 3P reserves.

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