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
Teen jogger who accidentally crossed U.S. border from Canada is detained for two weeks
A teenager out for a beachside.
Grand Finale of the 2018 Merida Initiative National Mock Trial Competition for Mexican Law Students
Mexico City, 21 June, 2018 –.
Three time NBA Champion Klay Thompson charters plane to Mexico full of IG models
Three-time champion Klay Thompson is in.
Mexico’s soccer national team mental coach is transforming mindsets nationwide
Though the spotlight is always on.
Maya sacred book “Chilam Balam Tekax” astrological predictions analyzed by INAH experts
The first specialized integral study of.
Prisma Hotel Group announces investment of 357 million for remodeling hotels nationwide
With the objective of always providing.
Trump’s ‘Tent Cities’: where unaccompanied minors are kept in South Texas
According to Esquire: Beyond the moral and.
“Mayas y Piratas” Festival in Chetumal
The Bay of Chetumal will host.
The current ESAY premises will be turned into the new University of the Arts
“The transformation of the Higher School.
Growth in tourism is expected in Valladolid during the summer holiday season
After carrying out various promotional activities,.