Despite the presidential speech and high expectations, the production of the state oil company Pemex continues to plummet. National oil production for 2021, which was only 1,600 barrels higher than a year earlier, was saved by private companies, which still account for less than 5% of total production.
Pemex’s numbers during 2021 have been owed. Data from the National Hydrocarbons Commission published this Monday afternoon say that the national oil company produced an average of 1.6 million barrels per day last year, a figure 0.5% -or 8,607 barrels per day- lower than that of 2020, when the pandemic of Covid-19 led most companies in the sector to reduce their investments and production.
The figure published today by the market regulator places Pemex’s production during 2021 as the lowest since 1979, based on the national production reported by the company in its statistical yearbooks, when it was the only market participant.
Thus, Pemex is moving further away from the presidential goals, which went from 2.6 million barrels to only 2 million barrels per day by 2024.
The company produces less oil than in the last year of the PRI administration. In 2018, Pemex’s crude oil production was 1,787 million barrels per day, according to data from the regulator.
The state-owned company will publish its data in this regard next Wednesday, in which the measurement may vary due to the fact that the company uses a different methodology, in which it accounts for some condensates obtained in fields such as Quesqui and Valeriana as part of its oil production, according to data collected by the consulting firm Redd Intelligence.
Soon more information…
