Pemex Jan-Nov Crude Exports Rise 32% to US$25.7bn

Mexican state oil company Pemex's crude exports rose 32%, or US$6.24bn, to US$25.7bn in the first 11 months of 2005 compared to the same period in 2004, Pemex said in a statement.

Pemex exported an average of 1.81 million barrels a day (Mb/d) of Maya, Istmo and Olmeca crude to the Americas, Europe and the Far East, the statement said.

From January-November 2005, the Mexican crude oil basket registered an average price of US$42.45/b, US$11.21/b more than the average price in the same period of 2004.

In the same period, Pemex exported an average 1.52Mb/d of Maya crude, 83.8% of the company's total exports and the highest volume of heavy crude oil exports in the company's history.

Pemex's Maya crude exports brought in US$20.467bn from January-November 2005.

In the same period Pemex exported an average 81,000b/d of Istmo light crude, bringing in US$1.435bn, while Olmeca extra-light crude exports averaged 213,000b/d, bringing in US$3.822bn.

From January-November 2005 Maya crude oil registered an average price of US$40.35/b, Istmo crude oil averaged US53.07/b and Olmeca crude averaged US$53.72/b.

Pemex exported 1.584Mb/d of crude to the Americas, representing 87% of total exports. Pemex also exported 199,000b/d to Europe and 31,000b/d to the Far East, the statement said.

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