Crude oil exports from Mexican state-owned oil company Pemex rose 11.4 percent in May compared to the prior month, while output was largely unchanged, the company said.
Pemex [PEMX.UL] data showed average crude oil exports rose to 1.204 million barrels per day (bpd) from 1.081 million in April.
Sales to the Far East – which includes Japan, China, India and South Korea – jumped 74 percent last month to 373,000 bpd, while sales in the Americas, mostly to the United States, dropped 11 percent to 593,000 bpd.
Pemex officials told Reuters that they had ramped up oil shipments to Asia, especially of light Isthmus crude, because of changes in blends processed by domestic refineries.
Crude oil production averaged 2.17 million bpd in May, roughly in line with figures from the prior month.
In response to slumping oil prices and mounting debt, Pemex has announced a series of budget cuts, most of which will hit its exploration and production budget. The company now expects output to average 2.13 million bpd this year, and fall even lower in 2017.
Output so far this year has averaged 2.21 million bpd.
(Reporting by Ana Isabel Martínez, writing by Anna Yukhananov; Editing by Cynthia Osterman)
more recommended stories
Battle between the US & Mexico over the US Dolphin Safe label comes to an end
More than a decade since Mexico.
Mexico will host international Solar Power Fair in 2019
Mexico will host one of the.
Fentanyl lab busted in Mexico City
The Attorney General’s Office (PGR) has.
Man faces 30 years in prison for stabbing his wife in Merida
Erick. G.L was arrested for the.
2018: the year the migration crisis swept the Americas and reached the doorstep of the U.S
Mexico City (AFP) – From the.
Photographs of dogs waiting for homeless owner outside hospital go viral
The scene took place in a.
Natgas shortage in Yucatán to continue – business leaders
According to bnamericas.com, Mexico’s Yucatán peninsula.
OPINION: The future of real estate in the new sexennium
On the last day of his.
Become a Non-Resident of Canada for Tax Purposes
Canadians residing in Mexico full time.
Austrian Symphony Orchestra will arrive in Yucatan in 2019
The University of Graz-Austria Symphony Orchestra.