Earthquakes and Hurricane undermine fuel and crude oil production

However, it is expected that Pemex "will meet its annual goal of 1,944,000 bpd on average"

Photo: Juan Carlos Reyes/EL UNIVERSAL
English 18/10/2017 12:02 Noé Cruz Serrano Mexico City Actualizada 12:05
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In September, according to information from Pemex Exploration and Production subsidiary (Pemex Exploración y Producción abbreviated PEP) released on Monday, the oil extraction production stood at 1,730,000 barrels per day (bpd), reaching the lowest month production since 1980.

Mexico had a reduction of 200,000 bpd in crude oil extraction representing USD$289.4 million and about MXN$194.5 million in gas production due to the affections in the facilities of the Mexican National Oil Company, Petróleos Mexicanos (Pemex) caused by the earthquakes that struck the country last month, an 8.2-magnitude quake on Thursday, September 7, followed by a 7.1-magnitude quake on Tuesday, September 19.

Pemex noted that port and refinery closures in the United States by Hurricane Harvey along with and the affectations at the Tamaulipas and Veracruz export terminals, undermined oil production in Mexico, given the increase in crude oil storage. However, it is expected that the company "will meet its annual goal of 1,944,000 bpd on average."

Even though the facilities did not "suffered structural damage" from both Hurricane Harvey and the 7.1-magnitude earthquake on September 19, the six refineries operated by Pemex barely produced 551,000 bpd on average last month, when their operational capacity is 1,427,000 bpd, as it occurred in December 1994.

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