Eric Watkins
Senior Correspondent
LOS ANGELES, Mar 25 -- Mexico's state-owned Petroleos Mexicanos (Pemex) saw a 6.4% decline in its oil production to 2.94 million b/d for the first 2 months of 2008 compared with the same period in 2007.
Oil exports during January and February averaged 1.43 million b/d, a 14.6% drop from the same period in 2007 period, according to Pemex, which said February oil production was 2.93 million b/d, down 300,000 b/d from the 2.96 million b/d produced in January.
Pemex said declining output levels at offshore Cantarell oil field was largely responsible for the overall decline.
Meanwhile, Pemex said natural gas production reached a record 6.537 bcfd in the 2-month period, up 13.2% from the first 2 months of 2007.
Gas production rose due to greater gas output from offshore oil fields, and increased production from its Lankahuasa, Burgos, and Veracruz projects.
Contact Eric Watkins at [email protected].
