Petróleos Mexicanos (Pemex) slightly increased its production both in monthly terms and in the annual comparison in May, when it reached a volume of 1,775 million barrels per day of crude oil and condensates, according to its monthly statistics.
Regarding crude oil only, the production that the state company quantifies both in its assignments and in the Ek Balam shallow water contract and that it has with partners in other contracts derived from farmouts and migrations from previous service contracts, the production in May was 1.689 million barrels per day, with a slight increase of 0.25% in one month and 0.11% in one year.
The extraction of condensates, which are associated liquids such as gasoline and light oils of high value for petrochemicals, was 85,436 barrels per day during May, with an increase of 5.2% in one month, but 27.5% in one year, derived from the extractions in new priority land developments, such as Ixachi, in Veracruz.
Thus, the extraction of both crude oil and condensates by Pemex with its partners in May had a monthly increase of 0.48%, although it was below what was reported in March. In annual terms, the joint extraction volume increased by 1.15 percent.
With regard only to condensates, which Pemex began reporting in 2018 when it began the exploitation of new discoveries with a high content of these products, May’s production was the largest that the state-owned company has reported together with its partners in its history.