Pemex's Oil Exports Tumble

Tuesday, May 28, 2019

Pemex's oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday.

Exports of Maya crude, the only type Pemex has been selling abroad for almost a year, fell to 1.023 million barrels per day (bpd) in April from 1.150 million bpd in March, the data showed. Crude output dipped to 1.675 million bpd from 1.691 million bpd.

Pemex has been struggling to cope with financial debts of some $106 billion and years of dwindling output. President Andres Manuel Lopez Obrador has pledged to revive the company, cutting its tax bill and lifting oil production by at least 50% by the end of his administration in 2024. 


(Reporting by Ana Isabel Martinez Editing by Leslie Adler)

Categories: Oil Production North America

Related Stories

CNOOC Puts Into Production New Oil Field in South China Sea

Petrovietnam, Petronas Extend PSC for Offshore Block

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

CNOOC’s South China Sea Oil Field Goes On Stream

China’s CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Petrovietnam, Petronas Extend PSC for Offshore Block

Sapura Energy Scoops Close to $9M for O&M Work off Malaysia

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com