- Oil processing at Mexico’s national oil company Pemex increased substantially in July from the previous month, while crude exports rose slightly in a reversal of earlier national policy to cut exports and focus on the domestic market.
- As part of the plan, Pemex was to cut crude oil exports from over a million barrels per day to just 435,000 barrels a day in 2023.
- High oil and gas prices helped Pemex report net profit of $12.7 billion for the first six months of the current year compared with a loss of $1.15 billion in the first half of 2021 despite export volumes falling 5% to 5.68 million barrels.
Pemex Sees Sizeable Increase In Crude Processing In July
