Crude oil exports by Mexico's Pemex rise 33% in February from January
Crude exports in February reached 709,793 barrels per day (bpd), according to data published by Pemex late on Tuesday.
About 60% of those exports, or 428,357 bpd, went to
Crude exports in January had plunged 44% year-on-year in January to their lowest level in decades as the company struggled with crude quality.
On Tuesday, the head of Pemex's trading unit PMI said Pemex is actively looking to diversify its market for crude oil exports, as well as for motor fuel imports, confirming a Reuters report from early March.
Crude and condensate production meanwhile rose a marginal 0.5% in February compared to January, but was 10.5% lower than the same month last year amid a gradual decline in pumping in recent months.
Pemex has attributed the decline to the depletion of several key fields.
The company is burdened with a financial debt of almost
Oil-only production was relatively flat at 1.37 million bpd, following months of steady declines in recent years.
Pemex said it increased crude processing at its local refineries in February by 0.8% to 898,153 bpd but that was down 4% year-on-year.
The much-publicized new
Pemex produced 334,791 bpd of gasoline in February, up 8% year-on-year, and 168,452 bpd of diesel, very similar to the volume in the same month of 2024.
Fuel oil production fell by 26% in February to 220,752 bpd, of which Pemex exported 183,426 bpd.
Meanwhile, February gasoline imports were 33% lower year-on-year and 15% lower than in January.
Pemex's target is to maintain average crude oil production
of 1.8 million bpd during Sheinbaum's six-year term, aiming to
process most of that in
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