• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 1 hour Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 18 mins Peak Oil is Now!
  • 12 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 41 mins Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 56 mins Corporations Are Buying More Renewables Than Ever
  • 7 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 15 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 19 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 22 hours The EU Loses The Principles On Which It Was Built
  • 12 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 22 hours Film on Venezuela's staggering collapse
  • 21 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 18 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
Canada’s Pipeline Crisis Is A Boon For Russia

Canada’s Pipeline Crisis Is A Boon For Russia

The Trans Mountain pipeline struggle…

Pemex Production Continues to Fall

Pemex Station

Mexican state-owned oil company Pemex said Tuesday that crude production declined 1.8 percent in April compared with the prior month, Reuters reported. Crude oil production averaged 2.177 million barrels per day (bpd) last month, down from 2.217 million in March. The company now expects output to average 2.13 million bpd for 2016, according to the report.


Related: 2015 Worst Year For Oil Discoveries Since 1952

On the positive side, exports increased 1.7 percent to 1.081 million bpd in April, from 1.063 million the prior month. In April, Pemex said it trimmed first-quarter losses by more than a third compared with the same period last year, to $3.7 billion, despite continued output declines, the Financial Times reported. Total revenue fell by nearly 20 percent as the global prices for oil remained low. Natural gas production fell 10 percent in the quarter. However, experts say reforms in the natural gas sector are taking effect and will improve the industry’s outlook markedly in the months ahead.

By The Dialogue

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News