Pemex Earns US$7.29bn from Q1 Exports

Mexico's state oil company Pemex earned US$7.29bn from crude exports in the first quarter this year, Pemex said in a statement.

The company exported an average 1.71Mb/d of Istmo, Maya and Olmeca crude within the Americas to Europe and East Asia from January-February this year, Pemex said, without providing 1Q06 figures.

Pemex reported last year it exported 2.3Mb/d of Maya, Istmo and Olmeca crude in 1Q06, 8% more than in the same period of 2005.

Pemex registered total crude oil exports of US$8.99bn 1Q06, up 55% compared to the same period in 2005.

The average crude export price in 1Q07 was US$47.34/b, down US$2.78/b from the same quarter last year.

Crude oil exports in March 2007 reached an average of 1.78Mb/d, up 200,000b/d from January, when "adverse climatic conditions" delayed shipments, the statement said.

Of total 1Q07 exports, 88.7% went to the Americas, 7.7% to Europe and 3.6% to East Asia.

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