Petróleos Mexicanos (Pemex) increased its oil production both in the monthly comparison and in relation to last year in January, the month in which it also managed to increase the volume of fuel production in its refineries, including the production of fuel oil that has caused controversy by the increase in its use by the Federal Electricity Commission. It also had its lowest month for crude exports in more than 30 years, despite the fact that the Mexican export mix reached the highest price it has had in more than seven years.
In the first month of the year, the state oil company exported 832,000 barrels of crude oil per day, a volume that is the lowest that Pemex has records for a month, since 1990. Compared to the previous month, the drop was 20% and in In contrast to the month of January 2021, the reduction was 15 percent.
It should be remembered that due to the reduction in supply due to temperature and the conflict between Russia and Ukraine, the price of the Mexican export mix had an average price of 75.74 dollars per barrel in January, which is the highest for a month. that has been registered since September 2014, and that as specialists warned before the current strategy of increasing domestic fuel production and reducing exports, the country did not take advantage of the extraordinary income that this world situation would cause in public finances due to foreign sales of crude.
On the other hand, the Mexican State oil company managed to increase its crude production by 4% per year with more condensed partners in all the areas it is in charge of, reaching an extraction of 1,783 million barrels per day in January, a volume that means an increase of 70,000 barrels per day compared to the same month in 2021.
In contrast to December of last year, the state-owned company also managed to increase its production of crude oil plus condensates, including the extraction it has carried out with partners since the 2013 reform, so that in monthly terms the increase it presented in its latest indicators was 0.6% per month, which is an additional 10,000 barrels per day. Meanwhile, its production of oil products was 911,000 barrels per day, an increase of 12% compared to December. Compared to the production of these products in the first month of 2021, the increase is almost 13%, after adding 104,000 barrels per day to the oil products production report.
Only with regard to gasoline, the Petroleum Statistics report for the month of January detailed that 271,200 barrels per day were produced, a volume that is the highest for a month since 2016.