NAMI News
The latest trinational news.Sunday, May 24, 2009
Value of Mexico’s Crude Exports Down 60 Percent
Latin American Herald Tribune, May 24, 2009 - “Mexican state oil company Pemex said that in the first four months of the year the value of its crude exports totaled $6.14 billion, down 60.4 percent compared to the same period of 2008. According to operating results announced in a press release on Thursday, Pemex exported an average of 1.25 million barrels of crude per day in that period, off 15.3 percent from the average exported in the first four months of 2008. The average price of Mexico’s export crude mix was $40.80 per barrel for the first four months of the year, 52.8 percent less than the average price in January-April 2008, prior to the onset of the global economic crisis. For the same periods in question, Pemex produced 2.66 million barrels per day this year, a decrease of 6.89 percent from the 2.85 million barrels of output in 2008. Mexico is facing declining production at its main oil fields even as domestic demand for oil-derived products continues to increase. Read More.
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