Mexico's Pemex reports drop in crude oil production for October
MEXICO CITY, Nov 26 (Reuters) -Crude oil and condensate production by Mexican state energy company Pemex declined in October year-on-year to the lowest level so far this year, official numbers showed, while its local refineries processed more of it.
Cash-strapped Pemex has struggled to even maintain crude oil production at 1.8 million barrels per day, the level the government of President Claudia Sheinbaum targets, dropping 7.8% year-on-year in October alone.
That month, Pemex produced 1.72 million bpd of crude oil and condensate on average, numbers updated by the company late on Monday showed.
Crude oil production was down 8% year-on-year in October at 1.45 million bpd; its local refineries processed 730,000 bpd that same month, down from the levels earlier this year but up 20% year-on-year.
The new Olmeca refinery in the port of Dos Bocas did not process any crude in October, the numbers showed. So far, it processed 9,000 bpd in June, 65,406 bpd in July, 84,128 bpd in August and 18,118 bpd in September.
Reporting by Ana Isabel Martinez; Writing by Stefanie Eschenbacher; Editing by Jonathan Oatis
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