Pemex Crude Output Lowest In March

Posted by Joseph R. Fonseca
Friday, April 25, 2014
PEMEX

 

Crude oil production from Mexico's state-run oil company Pemex totaled 2.469 million barrels per day (bpd) in March, the company said on Friday, marking the lowest level of output since the 1990s.

The level of crude production in March was the lowest level of monthly output since June 1990, according to energy ministry data, excluding a single month in 1995 when output was down by more than 800,000 due to Hurricane Roxanne.

Meanwhile, crude oil export volumes in March were down 11 percent at 1.133 million bpd compared to the previous month, Pemex said, which was the lowest level of shipments since June.

Since hitting peak production of 3.38 million bpd in 2004, Mexican crude output has slid by a quarter to settle at 2.52 million bpd last year.

Crude exports have dropped by a third over the same period.

In December, Mexico's Congress passed a landmark energy reform that ended Pemex's 75-year monopoly on oil production and aims to lure significant new streams of private investment via new contracts to boost output.

Production through the first two weeks of April edged slightly higher to average 2.472 million bpd, according to preliminary figures published by Mexico's national hydrocarbons commission CNH. (Reporting by David Alire Garcia; Editing by Bernard Orr)

  • Logo

    Logo

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday,

Joint Petroleum Development in South China Sea Makes Sense

Shared development of oil, gas and possibly other natural resources is the most promising option for reducing tensions in the South China Sea and should be the

Narendra Modi Eyes Breakthrough Nuclear Pact with Japan

India is hoping to win Japanese backing for a nuclear energy pact during a visit by Prime Minister Narendra Modi, and lure investment into its $85 billion market

Fuels & Lubes

MARAD Evaluates Natural Gas v. Conventional Fuel Emissions

The Maritime Administration (MARAD) informs it has released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels.

Seaborne Ethane and Demand for a New Ship Type

Lloyd's Register report looks at the commercial landscape, regulatory issues and technical realities of a new trade in ethane emerging as a result of increased U.

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

News

New Double-ended Ferry for Norderney

New double-ended ferry serving the North Sea island of Norderney – Safe and eco-friendly maneuvering in shallow, high-sediment water using Voith Schneider Propellers Ferries

Coast Guard Responds to Capsized Tug in Chicago

The Coast Guard is responding to the capsizing of a tug on the Calumet River near the 106th St. Bridge in Chicago in which two crew members were able to escape and swim to shore.

UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday,

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0962 sec (10 req/sec)