Home Business-newBusiness Pemex Exports increased by 10% during August

Pemex Exports increased by 10% during August

by Sofia Navarro
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Throughout August, Petróleos Mexicanos (Pemex) experienced a noticeable increase in the value of its crude oil exports, reaching a figure of $2.539 billion. This achievement represents a significant increase of 10.05% compared to the $2.307 billion exported in the previous month, as revealed in a report by the company itself.

The petroleum statistics for August indicate that this value represents the highest figure since July of the previous year, and this increase is mainly attributed to the improvement in international crude oil prices.

During the mentioned month, the state-owned company reported that the average export price of crude oil was $76.10 per barrel, representing a 7.5% increase compared to the $70.77 per barrel in July. Furthermore, this price is the highest recorded since November of the previous year.

Regarding the volume of exports, there was also an increase, albeit more moderate. The sale of 1,076,000 barrels per day was recorded, representing a 2.2% increase compared to the 1,052,000 barrels exported in July.

Most of the crude oil exported by the state-owned company remained in the American continent, representing 72% of total exports, while 13% went to Europe, and the rest was destined for countries on other continents.

In terms of Pemex’s trade balance, a surplus of $171 million was recorded in August. This is because the company exported petroleum products, natural gas, and petrochemicals with a total value of $2.888 billion, while its imports amounted to $2.717 billion.

Additionally, during the period from January to August, Pemex’s average daily production reached 1,862,000 barrels, representing a 5.8% increase compared to the 1,758,000 barrels per day recorded in the same period of the previous year. Monthly growth was also 5.4 percent.

It is worth noting that, despite incidents in June, the production of liquid hydrocarbons by the company has remained consistently above 1.8 million barrels per day throughout this year.

TYT Newsroom

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