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Pemex exports fall 33.7%

Pemex exports decreased 33.7% in peso terms in the first six months of 2020, with export earnings denominated in US dollars converted to pesos at the exchange rate on the date of the corresponding export sale.

Pemex exports went from 311.5 billion pesos in the first half of 2019 to 206.4 billion pesos in the first half of 2020.

Above all, this decrease was due to a 46.4% decrease in the weighted average price of Mexican export crude oil in the first six months of 2020, compared to the first six months of 2019.

From January 1 to June 30, 2019, the weighted average price of Mexican export crude oil was $ 58.73 per barrel, compared to $ 31.50 per barrel in the same period in 2020.

Exports

Crude and condensate sales decreased 35.1%, from 228,100 million pesos in the first six months of 2019 to 148,000 million pesos in the first six months of 2020, and in US dollar terms the decrease was 7.6%, from 12.2 billion in the first six months of 2019 to 6.6 billion in the first six months of 2020.

The weighted average price per barrel of crude exports in the first half of 2020 was 31.50, which represents a growth of 46.4% year-on-year.

Export sales of petroleum products, including products derived from natural gas and natural gas liquids, decreased 32.4%, from 10.6 billion pesos in the first six months of 2020, mainly due to a decrease in the average sale price of fuel oil and naphtha.

 

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