MEXICO CITY May 5 Mexican national oil company
Pemex said on Friday that March crude exports fell to a record
low of just above 1 million barrels per day (bpd), while oil
output for the month also dipped.
Pemex's March crude shipments averaged 1.001 million bpd,
the lowest level of monthly exports going back to at least 1990
when records began. March exports were down nearly 6 percent
compared with the same month last year.
Meanwhile, crude production during the month fell 9 percent
to average 2.018 million bpd.
Pemex's oil output hit a peak of 3.38 million bpd in 2004,
but since then has steadily declined.
A four-year-old energy overhaul that ended Pemex's
decades-long monopoly on production led to the first-ever
competitive oil auctions and joint venture partnerships, but
fresh output streams from new entrants in the market are not
expected for several years.
On Wednesday, despite lower oil production, Pemex reported
its first quarterly profit in five years on higher sales and
rising prices, gaining some $4.7 billion during the
(Reporting by David Alire Garcia; Editing by Andrew Hay)