Mexico’s oil output falls 5.9 percentFebruary 22nd, 2008 - 4:50 pm ICT by admin
Mexico City, Feb 22 (IANS) Mexico produced an average of 2.95 million barrels of oil per day last month, a decline of 5.9 percent from January 2007, state-owned Petroleos Mexicanos (Pemex) has said. Pemex attributed the steady drop in output to the gradual exhaustion of the Cantarell field in the Gulf of Mexico, Spanish news agency EFE reported Friday.
While oil production fell, Pemex pumped a record 6.53 billion cubic feet per day of natural gas in January, a gain of 13.9 percent over the same month last year.
Mexico, the second largest foreign supplier of oil to the US, exported 1.43 million barrels per day (bpd) of crude in January at a median price of $79.60 a barrel, generating revenues of $3.54 billion. The firm said the volume of exports was 9.4 percent less than in January 2007 due to bad weather that forced Gulf ports and oil facilities to suspend operations for several days.
President Felipe Calderon’s administration has been consulting lawmakers on a potential bill that would allow Pemex to turn to foreign oil companies for capital and technology for extracting petroleum from deepwater deposits in the Gulf of Mexico.
Though the rightist head of state insists he is not aiming at privatisation of Pemex, many Mexicans are wary of opening the state-owned giant to private investment.
- Mexico makes large offshore oil find - Aug 30, 2012
- Mexican oil firm posts nearly $25 bn surplus in 2011 - Feb 01, 2012
- Mexico's oil output falls in 2009 - Oct 25, 2009
- Mexican oil giant sells $327 mn in bonds - Mar 14, 2012
- 26 die in Mexican gas plant blast, fire (Lead) - Sep 19, 2012
- Mexico forecasts 4 percent drop in oil output in 2010 - Aug 29, 2009
- Mexican oil firm ends 2011 with net loss of $6.5 bn - Mar 01, 2012
- Mexican firm eyeing Cuba offshore oil projects - Apr 13, 2012
- Mexican oil giant needs $25 bn in annual investment - Feb 08, 2012
- Venezuela confirms start-up of oil exploration off Cuba - Sep 06, 2012
- Mexican firm launches LPG auction - Oct 14, 2011
- Mexican oil giant to spend $24 mn to repair pipeline - Dec 21, 2011
- New oil field in Mexico could help rescue industry - Feb 17, 2010
- Ecuador wants to hike oil output - Jul 08, 2011
- Mexico arrests two Chinese executives on bribery charges - Dec 15, 2010
Tags: bad weather, bpd, city feb, cubic feet, efe, gulf of mexico, gulf ports, head of state, median price, mexicans, mexico city, oil companies, oil facilities, oil output, oil production, pemex, petroleos mexicanos pemex, president felipe calderon, private investment, spanish news agency