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

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

ONGC Nears Venezuela Operatorship Deals, Regains Russia’s Sakhalin-1 Stake

Fugro Secures India Deepwater Drilling ROV Contract

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Energean Lifts Karish Fields FPSO Oil Processing Capacity

EnQuest Clears Key Hurdle for $833M Malaysia Offshore Deal

Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows

Markets: Oil Majors Reload Exploration Hoppers Across Sub-Saharan Africa

IEA Expects Gradual Hormuz Recovery, Oversupplied Market in 2027

Current News

Strait of Hormuz Shipping Marks Slight Rise

China's CNOOC Posts Record First-Half Profit

BP Completes Central Azeri Platform Maintenance, Ramps Up Production

Iran-Oman Talks on Hormuz Reopening Drive Down Oil Prices

Viridien Progresses Hybrid Multi-Client Survey Offshore Malaysia

TGS Extends Work on Indonesia’s Largest Seismic Acquisition Project

Saudi Contractor Enters Oman with Four-Well Drilling Assignment

McDermott Gets ADNOC’s ‘Mega Contract’ to Advance Umm Shaif Field

Iran Tightens Enforcement of Strait of Hormuz Transit Rules

TenneT Completes Drilling, Installation of Protective Conduits for Wind Farms

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