LONDON: Crude oil exports from Mexico’s state-owned oil company Pemex jumped 11 percent in January compared to the prior month, while output edged down slightly, the firm said on Wednesday.
Pemex data showed average exports rose to 1.12 million barrels per day (bpd) from 1.008 million bpd in December. Exports hit their lowest in at least 25 years that month after the firm sent more oil to domestic refineries.
Crude oil production eased 0.7 percent to 2.259 million bpd in January, the lowest level since August. Pemex said output averaged 2.267 million bpd for 2015, the eleventh consecutive annual drop since hitting a peak of 3.38 million bpd in 2004.
Mexico’s government ordered a change in the Pemex leadership earlier this month as the firm struggles with a sharp fall in the price of oil which, alongside declining production, has led to record losses and drastic cost-cutting measures.
