Mexico | Annual drop in Pemex’s production from light crude reduction

Summary

The production of liquid hydrocarbons of Pemex Exploration and Production (PEP) in the first quarter of 2024 vs. the previous quarter showed a decrement of 36 thousand barrels a day mainly due to a lower production of superlight crude oil plus condensates by 29 thousand barrels a day.

Key points

• Key points:
• The production of new fields averaged around 563 thousand barrels a day of liquid hydrocarbons in the first quarter of 2024 vs. 573 thousand in the previous quarter.
• A lower export volume of crude oil and lower prices of some fuels affected Pemex’s export and domestic sales, which posted an annual decrease of 3.4% and 2.8% in the first quarter of 2024, respectively.

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