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Mexico's Pemex reports drop in crude oil production for October
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Mexico's Pemex reports drop in crude oil production for October
Nov 26, 2024 2:16 PM

MEXICO CITY, Nov 26 (Reuters) - Crude oil and condensate

production by Mexican state energy company Pemex declined in

October year-on-year to the lowest level so far this year,

official numbers showed, while its local refineries processed

more of it.

Cash-strapped Pemex has struggled to even maintain crude oil

production at 1.8 million barrels per day, the level the

government of President Claudia Sheinbaum targets, dropping 7.8%

year-on-year in October alone.

That month, Pemex produced 1.72 million bpd of crude oil and

condensate on average, numbers updated by the company late on

Monday showed.

Crude oil production was down 8% year-on-year in October at

1.45 million bpd; its local refineries processed 730,000 bpd

that same month, down from the levels earlier this year but up

20% year-on-year.

The new Olmeca refinery in the port of Dos Bocas did not

process any crude in October, the numbers showed. So far, it

processed 9,000 bpd in June, 65,406 bpd in July, 84,128 bpd in

August and 18,118 bpd in September.

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