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Mexican Oil Exports Hit Bottom as Output Falls to 46-Year Low
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7 Articles
In 2024, Mexico recorded its lowest level of oil reserves since 2019 and close to what it had in the 1970s, OPEC+ revealed.
Mexican Oil Exports Hit Bottom as Output Falls to 46-Year Low
(Bloomberg) — Mexican oil production is on track to plummet to levels last seen in the late 1970s before the start of the giant Cantarell field, posing a threat to US refiners at a time when they need oil from the country the most.
Tabasco, the main producer of oil on land in Mexico, recorded a worrying streak of more than 20 months of continuous falls in its daily production of crude oil, according to data from the Energy Information System of the Secretariat of Energy (Sener). In July 2023, extraction reached 511 thousand barrels per day on tobacco soil. By September of the same year, the figure dropped to 501 thousand, closing December 2023 at 488 thousand barrels per d…
The Olmeca refinery, which was supposed to be producing 260,000 barrels of gasoline daily since September last year, will not reach its productive peak until 2026, two years after the last promise it made by the former president of Mexico, Andrés Manuel López Obrador. In July last year, the Mexican president corrected for the third time the date of the productive start of the refinery located in Dos Bocas, Tabasco, noting that by September of th…
The oil states of Campeche and Tabasco decreased their exports during the first three months of the year, according to data from the National Institute of Statistics and Geography (Inegi). “The main cause was the decrease in the production and export of crude oil by Mexican Petroleums, something already anticipated by the company’s strategy,” explained economic analyst Héctor Magaña Rodríguez. “From January to March, Pemex cut 23% of the volume …
The Minatitlán refinery, one of the seven that make up the National Refinery System, operates at minimal levels not seen in almost two years. In May 2025, it processed only 66,500 barrels of crude oil per day, the lowest volume since September 2023 and equivalent to only 23.3% of its installed capacity, according to official figures of Mexican Petroleum (Pemex). Located in southern Veracruz, the General Lázaro Cárdenas refinery, as it is officia…
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