Pemex Oil Output May Rise After 7 Years of Decline

(Bloomberg) — Petroleos Mexicanos may produce more crude in 2011 after seven years of plunging output, the state- owned oil company said in a presentation.

Pemex, as the Mexico City-based company is known, may produce 2.55 million barrels a day next year, up 50,000 barrels from the forecast for 2010, Carlos Morales, head of exploration and production, said in a presentation on the company

Oil production may rise to 2.69 million barrels a day in 2012, Morales said in the presentation. Pemex pumped 2.602 million barrels a day through November 2009.

Pemex