The Government reduced its average estimation of crude oil production in the country for this year in 129,000 barrels per day (BPD), arguing a “prudent approach” that takes the trajectory of the first months of the year, which would carry it below the goal of 1.8 million BPD.
In its revised estimate, the Treasury now calculates an average production of 1.76 million BPD by 2025 and calculates a “marginal” increase to 1.77 million BPD by 2026, according to its precriterities of economic policy 2026, published on Tuesday afternoon.
For the estimation of 2026, the Treasury takes into account the “development of new strategic projects and the eventual incorporation of additional deposits in case the explorations are favorable.”
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The Treasury specified, to a Reuters consultation, that the new projections include production of Pemex alone and with partners, as well as condensate and private production.
Pemex remains the largest oil operator in Mexico and its dominant position was reinforced after recently approved energy reform.
However, Pemex has failed to stop the decline of its raw production in a sustained manner and in the first two months of the year, the most current data available, averages a production of 1.61 million BPD, including partners.
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Pemex, with a financial debt of 97.6 billion dollars and more than 20,000 million dollars with suppliers, bets that new contract schemes with private ones derived from the energy reform will allow it to increase the production and reach the goal of 1.8 million BPD that President Claudia Sheinbaum has set for her government.
With Reuters information
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