Pemex production fell 1.9% in November

In November, the production of liquid hydrocarbons by Petróleos Mexicanos (Pemex), without including its private partners, averaged 1,624,000 barrels per day, a drop of 1.9 percent when compared to what was reported in the same month last year, which was 1,656,000 barrels per day, according to official company statistics.

When including its commercial partners, the average production during the eleventh month of the year was one million 641 thousand barrels per day, while in November 2024 one million 673 thousand barrels per day were reported, which translates as a decrease of 1.9 percent.

The data indicate that the public company has still not managed to reach the goal set by the federal government of producing an average of one million 800 thousand barrels per day. The November figure, not including its trading partners, is 176 thousand barrels below the target.

In this year’s total, Pemex averages a production of one million 616 thousand barrels per day, which implies a reduction of 7.8 percent if one considers that, in the same period, but the previous year, it reached one million 754 thousand barrels per day.

The average production from January to November, when including private partners, stood at 1,633,000 barrels per day, an amount 7.8 percent lower if one considers that in the same period of 2024 it reached 1,772,000 barrels per day.

Foreign trade

The data published by the oil company indicate that, during November, the volume of crude oil exports was 539 thousand barrels per day, which represents a drop of 43 percent when compared to the 951 thousand barrels per day that were reported in the same month last year.

Meanwhile, the value of exports during the eleventh month was 925 million dollars, an amount that is 50 percent lower when compared to the 1,852 million dollars reported during November 2024.

This is the third time this year that the value of crude oil exports by the oil company is below the billion-dollar threshold. The first was in June, when the value was 862 million dollars, and the second in August, with 954 million dollars.

According to Pemex statistics, 308 thousand barrels per day were exported to the American region, 132 thousand barrels per day to Europe, and 99 thousand barrels per day to the Far East.