MEXICO CITY, March 26 (Reuters) - Crude oil exports by

Mexican state energy company Pemex grew 33% in

February compared to January, recovering from a tumble the month

before but still down 25% compared to February 2024.

Crude exports in February reached 709,793 barrels per day

(bpd), according to data published by Pemex late on Tuesday.

About 60% of those exports, or 428,357 bpd, went to the

United States, most of that being the Maya heavy crude oil

blend.

Crude exports in January had plunged 44% year-on-year in

January to their lowest level in decades as the company

struggled with crude quality.

On Tuesday, the head of Pemex's trading unit PMI said Pemex

is actively looking to diversify its market for crude oil

exports, as well as for motor fuel imports, confirming a Reuters

report from early March.

Crude and condensate production meanwhile rose a marginal

0.5% in February compared to January, but was 10.5% lower than

the same month last year amid a gradual decline in pumping in

recent months.

Pemex has attributed the decline to the depletion of several

key fields.

The company is burdened with a financial debt of almost $98

billion as well as another $25 billion in debt to suppliers.

Mexico's President Claudia Sheinbaum on Wednesday said Pemex

had paid off a total of 147 billion Mexican pesos ($7.31

billion) to suppliers.

Oil-only production was relatively flat at 1.37 million bpd,

following months of steady declines in recent years.

Pemex said it increased crude processing at its local

refineries in February by 0.8% to 898,153 bpd but that was down

4% year-on-year.

The much-publicized new Olmeca refinery, which claims a

capacity to process 340,000 bpd, processed just 6,797 bpd after

processing nothing in January, when the company said it was

affected by crude salinity problems.

Pemex produced 334,791 bpd of gasoline in February, up 8%

year-on-year, and 168,452 bpd of diesel, very similar to the

volume in the same month of 2024.

Fuel oil production fell by 26% in February to 220,752 bpd,

of which Pemex exported 183,426 bpd.

Meanwhile, February gasoline imports were 33% lower

year-on-year and 15% lower than in January.

Pemex's target is to maintain average crude oil production

of 1.8 million bpd during Sheinbaum's six-year term, aiming to

process most of that in Mexico to produce the fuels Mexico needs

domestically.

($1 = 20.1103 Mexican pesos)