| | |  Business News | December 2008 
Mexico: Oil Output Down 9.3 Percent from Last Year
 Associated Press
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Mexico City – Mexico's state oil company says production was down 9.3 percent in the first 11 months of the year, compared with the same period in 2007.
Petroleos Mexicanos says output averaged 2.8 million barrels a day between January and November, down from 3.1 million during the same period last year.
Oil exports fell 17.3 percent to 1.4 million barrels a day during that period.
The decline is mostly due to falling production at Mexico's biggest oil field, Cantarell. Output there fell 31 percent to 1 million barrels a day.
The company released the figures on Monday.
Lawmakers have approved an energy-reform package aimed at boosting production by giving Pemex more leeway to hire private firms and devote more revenue to exploration. |
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