Mexico’s Calderon sees oil exports falling further

MEXICO CITY, June 29 (Reuters) – Mexican President Felipe Calderon said on Friday he expected the country’s crude oil exports to slip further this year and next, continuing a decline seen in 2006.

“Starting in 2006, the volume of our oil exports has been falling at an alarming rate and from what we have observed up until now, this year and the next will be no exception,” Calderon told a banking event.


Mexico’s oil exports slipped 1.3 percent in 2006 to an average of 1.793 million barrels per day (bpd) as state oil monopoly Pemex grappled with lower output at its huge but aging Cantarell oil field.

Oil exports have slid a further 4.4 percent from the 2006 average in the first five months of 2007 to average 1.714 million bpd. The declining volumes coincide with lower oil prices after the historic peaks of the last few years.

Reuters