Related Articles
The government has stabilised falling production but has a long way to go to reach the 2.06mn bl/d target set for 2024
Forward article link
Share PDF with colleagues

Pemex running out of time

The state-controlled heavyweight may miss its 2021 upstream target despite downgrading original guidance

Mexican NOC Pemex may have slashed its year-end upstream production target to 1.8mn bl/d, but it still faces an upward battle to meet the revised goal. The firm produced 1.75mn bl/d over the most recent quarter—up by only 2.7pc on Q2 and 11pc below its original year-end target. “Pemex had originally targeted an average 1.94mn bl/d of liquids production for 2021,” says Fernando Tamayo, a Latin America research analyst at upstream consultancy Welligence Energy Analytics. “However, they have fallen well short, with production through September 2021 averaging 1.73mn bl/d.”  The company needs to find another 50,000bl/d before the end of the year to meet the new target, but Tamayo believes it wi



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Jera plans winter LNG stock build
26 November 2021
The Japanese LNG buyer is looking to avoid a repeat of last year’s supply crunch
Basra-Aqaba pipeline talks hint at conclusion
26 November 2021
Nearly 30 years since the original agreement, Iraq’s route to the Red Sea may be in sight
Delta goes private with Vietnamese LNG project
25 November 2021
The firm’s LNG-to-power development will be the first in Vietnam to be fully privately owned
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video