Pemex Registers US$20.2bn Trade Surplus Jan-Nov

Mexico's state oil company Pemex posted a US$20.2bn trade surplus for January-November 2005, up 21.6% compared to the same period last year, the company said in a statement.

Export revenues from crude, oil derivatives, petrochemicals and natural gas for the 11-month period were US$28.8bn.

By comparison the company's January-November import bill for these fuels was US$8.59bn.

Total export volumes of Maya heavy crude, Istmo light crude and Olmeca extra-light crude averaged 1.81 million barrels a day in the 11-month period, bringing in US$25.7bn.

Oil derivatives exports brought in revenues of US$2.73bn, while Pemex imported US$7.19bn-worth of these products from January-November, the statement said.

Petrochemicals exports brought in US$274mn, while the petrochemicals import bill came in at US$103mn.

Finally, Pemex reduced natural gas imports 17% to US$1.29bn in the first 11 months of 2005 compared to US$1.55bn in the same period of 2004, the statement said.

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