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 Business News | November 2007 
Mexico Oil Output Falls, Natural Gas Imports Soar
 Reuters
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Mexico City – Mexican crude oil production and exports fell in October after a storm in the Gulf of Mexico disrupted output for days, while natural gas imports soared 23 percent from September, state oil monopoly Pemex said Thursday.
Pemex said oil production last month fell to 2.995 million barrels per day from 3.161 million bpd in September. The company aims to maintain crude output at around 3.1 million bpd over the next few years.
Oil exports also slipped to 1.503 million bpd from 1.679 million bpd in September, when oil operations had recovered from an earlier storm disruption in August.
Natural gas imports jumped to 557.9 million cubic feet per day in October from 453.2 million cfd the previous month but production rose to 6.350 billion cfd from 6.104 billion cfd in September.
Pemex, grappling with sliding yields at its huge but aging Cantarell offshore field, had shut off 600,000 barrels per day in late October due to stormy weather. The storm also caused an accident at one of its platforms in the Gulf of Mexico that killed 21 workers.
The monopoly's gas distribution was also hurt earlier this year following attacks by a leftist group to its pipelines.
Pemex is a top oil supplier to the United States.
Reporting by Cyntia Barrera Diaz, editing by Walker Simon |
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