Pemex oil exports highest in over five years
MEXICO CITY, Oct 24 (Reuters) – Mexico’s state-owned oil company Pemex said on Monday that crude oil exports rose nearly 22 per cent in September compared to the same month last year, the highest level of shipments in more than five years.
The Mexican oil giant exported an average of 1.425 million barrels per day (b/d) during the month, the highest volume since August 2011, according to Energy Ministry data.
The company’s crude production, however, slipped 7 per cent in September to an average of 2.113 million b/d.
Pemex expects oil production this year to settle at 2.13 million b/d due largely to spending cuts resulting from low international oil prices.
Mexico’s oil output has fallen for a dozen years since hitting a peak of 3.38 million b/d in 2004.
(Reporting by David Alire Garcia; Editing by Sandra Maler)
