Pemex lowers its hydrocarbon production by 1.1% in 2Q20
Pemex produced 2,359 mbpced (thousands of barrels of crude oil equivalent daily) in the second quarter of 2020, a drop of 1.1% year-on-year.
In accordance with the Mexican Petroleum Law, Pemex is a productive state-owned company, the exclusive property of the Mexican government, and has the corporate purpose of generating economic value and increasing the income of the Mexican nation, while adhering to the principles of equity. , as well as social and environmental responsibility.
In that same period, the production of crude oil and condensates produced in fields (not including the production of the partners) averaged 1,673 thousand barrels per day (Mbd). This figure is the same as that reported in the second quarter of 2019.
Given the context, Pemex considered in its quarterly report, it is a favorable performance because in this period oil production was reduced by 100 Mbd during May and June as part of Mexico’s agreement with OPEC + countries and for some days it was suspended production due to the increase in inventories due to the closure of ports caused by tropical storms Amanda and Cristóbal.
On the other hand, the associated natural gas production (without including nitrogen) registered 2,605 million cubic feet per day (MMpcd); This is a decrease of 118 MMpcd compared to the second quarter of 2019.
In contrast, non-associated natural gas production stands out, averaging 1,000 MMcfd, 85 MMcfd higher than that of tropical 2Q19.
Pemex
The crude oil process was 631 Mbd, which implies a 37 Mbd higher volume than the processed volume in the same period of the previous year.
In turn, the primary distillation capacity used increased 38.5%, compared to 36.3% in the same quarter of the previous year.
From April to June, the production of petroleum products grew by 37 Mbd compared to the same period in 2019. It should be noted that, in relation to the same quarter of 2019, the production of distillates (gasoline, diesel and jet fuel) at the Madero refinery increased by 26 Mbd.
