National hydrocarbon production fell 4.53% annually in July: CNH

National production of liquid hydrocarbons, which includes production by Petróleos Mexicanos (Pemex) and private firms, stood at 1 million 831 thousand barrels per day in July 2024, a figure that translated into a decrease of 4.53 percent compared to the same month last year, according to data released by the National Hydrocarbons Commission (CNH).

According to information from the regulatory body, in the seventh month of this year, crude oil and condensate extraction was lower than the average recorded in the same period of 2023, which was 1,918,000 barrels per day.

The annual result is explained by Pemex’s lower production, which totaled four consecutive months with an average of less than 1.5 million barrels of oil per day.

Compared to June, domestic production of liquid hydrocarbons saw a slight contraction of 0.45 percent.

CNH data shows that Pemex remains the main company that extracts these energy sources, since of the national total, the state oil company averaged 1,736,000 barrels per day, which means that it contributed 94.8 percent.

Pemex’s extraction showed a drop of 4.30 percent compared to July 2023, while compared to June it fell 0.52 percent.

Private firms’ production averaged 95.5 thousand barrels per day in the seventh month, a figure that represents only 5.2 percent of the national total.

Taking into account national crude oil production alone, it averaged 1.565 million barrels per day, a figure that translated into a slight monthly decline of 0.35 percent.

While in its variation compared to July 2023, the extraction that includes Pemex and private companies observed a decrease of 4.68 percent.

The state-owned company’s oil production stood at 1 million 469 thousand barrels per day in the seventh month of 2024, which represented an annual drop of 4.42 percent.

Compared to June of this year, Pemex crude oil production in July showed a contraction of 0.49 percent. The July figure is now the lowest level in the last 30 years for the state-owned company.