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Mexico's Pemex says crude oil exports up more than 20 pct in Sept

24/10/2016
20:35
Reuters
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Despite the positive news for the Mexican oil giant, Mexico's oil output has fallen for a dozen years since hitting a peak in 2004

Mexico's state-owned oil company Pemex said on Monday that crude oil exports rose nearly 22 percent 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 (bpd) during the month, the highest volume since August 2011, according to Energy Ministry data.

The company's crude production, however, slipped 7 percent in September to an average of 2.113 million bpd.

Pemex expects oil production this year to settle at 2.13 million bpd 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 bpd in 2004. (Reporting by David Alire Garcia; Editing by Sandra Maler)

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