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Mexico's Pemex produces fewer than 1.5 million bpd of oil in April, data shows
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Mexico's Pemex produces fewer than 1.5 million bpd of oil in April, data shows
May 23, 2024 3:56 PM

MEXICO CITY, May 23 (Reuters) - Mexican state energy

company Pemex produced 1.47 million barrels per day (bpd) of

crude oil in April, the highest level in 45 years, data

published by the country's hydrocarbon regulator showed.

Pemex's crude oil production fell 5.9% year-on-year and 12%

since December 2018 when President Andres Manuel Lopez Obrador,

who had promised to rescue the company, took office, data

released on Tuesday showed.

Production of liquid hydrocarbons, including crude oil and

condensate, fell 6% in April from a year ago to 1.75 millon bpd.

Pemex did not respond to a request for comment.

In its most recent earnings call, officials said they were

seeking to mitigate the decline of crude oil production by

"reinforcing maintenance" of wells at productive fields and

drilling new ones.

Pemex reported steep first-quarter declines at fields

including Zaap, Xanab, Ayatsil, Ku and Quesqui.

Natural gas production fell almost 12% year-on-year in April

to 4.322 million cubic feet per day, the data showed.

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