Pemex crude output drops slightly in June, exports up 21 percent

31 Jul 2017   Mexico

Mexican national oil company Pemex’s [PEMX.UL] crude output dropped slightly in June compared with the previous month, while exports rose 21 percent, the company said. Pemex produced 2.01 million barrels per day (bpd) in June, down from 2.02 million in May, the company said. Exports rose to 1.157 million bpd in June, compared with 958,000 bpd in May, Pemex added. About 65 percent of exports went to the Americas, with 15 percent bound for Europe. The Mexican government is in the midst of implementing a sweeping energy reform finalized in 2014 that ended the decades-long production monopoly enjoyed by Pemex, formally known as Petroleos Mexicanos. Mexican crude output has declined over the past dozen years from a peak of 3.4 million barrels per day in 2004. The government expects crude production to average 1.94 million bpd this year.

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