MEXICO CITY, May 27 (Reuters) - Mexican state energy
company Pemex exported 681,000 barrels per day (bpd) of crude
oil in April, a year-on-year decrease of 31%, company numbers
showed, as production has been declining for the past few
months.
Pemex's sales to its biggest export market, "America", which
mainly consists of the United States, amounted to 484,000 bpd
in April, 16% lower year-on-year. Meanwhile, sales to Europe
amounted to 99,000 bpd that month, 54% lower over the same time
period.
Pemex, which published the figures late on Friday, gave no
reason for the lower export numbers. It did not immediately
respond to a request for comment.
Crude oil exports have been declining for decades from an
all-time height of 1.8 million bpd in 2004, when the company
pumped some 3.4 million bpd.
Over the past decades, large fields have been depleted and
new discoveries have failed to compensate for the decline.
The government has previously said that crude oil exports
would decline as Pemex uses more for its domestic refineries and
the Olmeca refinery in Dos Bocas.
However, Reuters revealed last week that the new refinery
only started taking in 16,300 bpd in mid-May.
President Andres Manuel Lopez Obrador's Olmeca refinery in
the port of Dos Bocas, in the southern state Tabasco, has been
running over budget and behind schedule. Startup has been pushed
back repeatedly over the past two years.
Pemex officials have in the past said that production had
taken a hit after several fields declined.
Last week, two sources at the company said it was also
affected by oil service companies that partially or completely
started operating after they did not get paid.
To be sure, Pemex's six local refineries substantially
increased local processing during the six-year term of Lopez
Obrador that will end in October. In April, these refineries
processed on average 950,699 bpd, almost 4% more year-on-year.
This compares to an average of 611,000 bpd at the end of the
past government in late 2018. Together, they have a capacity to
process 1.6 million bpd.
Pemex has said that it expects to process around 1.45
million bpd by the end of 2024 in all its Mexican refineries,
including the new Olmeca refinery.
In April, Pemex pumped 1.5 million bpd of crude oil, the
numbers showed, a 6.7% decline from a year earlier, and
continuing a downward trend it started in May 2023.
Including condensate, a very low-density, very low-viscosity
liquid hydrocarbon that usually comes to the surface with
natural gas, Pemex produced 1.78 million bpd in April, a 6.3%
decline from a year earlier.