Pemex Says January’s Daily Oil Output Little Changed

(Bloomberg) — Petroleos Mexicanos, the state- owned Mexican oil monopoly, said daily crude oil production in January was little changed from December.

Output rose to an average 2.957 million barrels a day from 2.954 million barrels in December, Mexico City-based Pemex, as the company is known, said today in an e-mailed statement. Production fell 5.9 percent from January 2007 as output at its main field extended a three-year decline.

Crude extraction fell short of a company goal of 3.1 million barrels a day. Chief Executive Officer Jesus Reyes Heroles said in June he hoped Pemex would maintain that level of production until 2012.

Cantarell, the third-largest crude field in the world, accounted for about 43 percent of Mexico’s oil output in December. Mexico’s Energy Ministry will publish Cantarell output figures later today.

Bloomberg