Banner flash
Thursday, June 20, 2019
01:21 PM
Mexico Central Time
MARKETS AND DATA: US Dollar: $12.65 Euro: $16.78 Gold: US$1,327 Silver: US$20.39 Mex Crude: US$102.50 Cetes 28: 3.85%
Energy Industry

posted 2009-05-28
Crude Oil on record high
Mexican Crude Oil price beat barrier of the US$60 per barrel. For the first time since Black October the crude oil prices have returned to a continuous escalade. The price reported US$61.17 almost doubles the prices shown in December 2008.


PEMEX steady Jan-May results

June 20, 2009. 18:22

PEMEX performance in the first five months of 2009.

The daily production was 2.650 million barrels; slightly below the company´s year projection of 2.7 million barrels per day.

The average export price in May was US$55.71 per barrel, the best monthly price since Black October, and close to the government 2009 budget estimation of US$70.

The exports revenue in the period of January-May 2009 totaled US$8.195 million, a 59% lower than the same period of 2008. A similar trend was followed by the major oil companies in the world. Just as a comparison, Exxon-Mobil, BP, Shell, Petrobras and Total reported decreases from 32% to 49% in the same period. Still, PEMEX exports revenue was 9.7 higher than the average experienced for the Jan-May period in the years 1998 to 2007. It is important to mention that year 2008 was more than exceptional, with record prices and high production levels.

DoingBusinessInMexico Staff
Published: June 20, 2009. 18:22 | Last updated: June 20, 2009. 18:25
About this author

Banner flash