Pemex's Crude Output Slides to 2.76MM B/D

MEXICO CITY (Dow Jones Newswires), September 23, 2008

Mexican crude production slid to 2.76 million barrels a day in August owing to a steady decline in overall production and temporary production snags.

August production was down from 2.78 million barrels a day in July and 2.84 million barrels a day in August, 2007, Pemex reported on Monday.

Pemex's exploration and production chief, Carlos Morales, recently told Dow Jones Newswires that pipeline repairs and other operational snags hurt overall production in August, and that output should rise in September.

Mexico's average oil export price was at $108.37 a barrel in August, down from $122.79 in July.

Natural-gas production rose slightly in August to 6.968 billion cubic feet a day, up from 6.902 BCF in July and 5.942 BCF in August, 2007. The state firm has been ramping up natural-gas output at fields on shore and in the Gulf of Mexico.

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