MEXICO CITY Nov 24 Mexico state oil monopoly
Pemex produced 2.542 million barrels per day (bpd) of
crude oil in October, its lowest in three months, the company
said on Saturday.
The October figure represents a slight dip from September's
rate of 2.555 million bpd, and the lowest since July.
However, the company's crude oil exports rose to 1.367
million bpd in October, above the 1.339 rate notched the month
Pemex is the world's No. 7 oil producer. The Mexican
government relies on oil revenues to fund about a third of the
If Pemex cannot develop new discoveries to replace declining
production at the country's largest, aging fields, Mexico risks
becoming a net importer of crude within a decade.
Mexican President-elect Enrique Pena Nieto of the
Institutional Revolutionary Party (PRI) has said one of his top
priorities is to boost oil production by attracting more private
investment into the country's energy sector.
Pena Nieto will take office Dec. 1.