Domestic production of liquid hydrocarbons falls 6.5% in 2nd quarter

National production of liquid hydrocarbons, which includes production by Petróleos Mexicanos (Pemex) and private companies, was 1 million 835 thousand barrels per day in April-June 2024, a figure that translated into a drop of 6.56 percent compared to the same period last year, according to information released by the National Hydrocarbons Commission (CNH).

The decline in crude oil and condensate extraction was explained by the reduction reported by the state-owned company in the period referred to, according to data from the regulatory body.

In the second quarter of 2024, Pemex averaged a production of 1,747,000 barrels per day, a figure that translated into a contraction of 6.09 percent compared to the same period in 2023.

Despite this negative result, the state oil company accounted for 95.2 percent of the national hydrocarbon extraction.

Private companies only produced an average of 88 thousand barrels per day in the second quarter of 2024, which meant a drop of 15.08 percent compared to the same period in 2023.

Taking into account national crude oil production alone, it amounted to 1,672,000 barrels per day in April-June of this year, a figure that showed a decline of 6.45 percent.

Pemex’s oil production averaged 1.475 million barrels per day — the lowest level on record. This represented a decrease of 5.88 percent compared to the second quarter of 2023.

In June, national production of liquid hydrocarbons was 1 million 840 thousand barrels per day, which meant an increase of 0.35 percent compared to May, but a decrease of 6.18 percent compared to the sixth month of 2023.

Pemex’s oil production reached 1.74 million barrels per day in June, a level that showed an increase of 0.20 percent compared to the fifth month of the year, but a decline of 6.01 percent annually.

For its part, private production was 94 thousand barrels per day, which translated into an increase of 11.68 percent monthly, but a drop of 9.38 percent compared to June 2023.

Taking into account national crude oil production alone, it averaged 1.57 million barrels per day in the sixth month, which meant an increase of 0.45 percent compared to May and a fall of 6.20 percent annually.

Pemex extracted one million 476 thousand barrels in the sixth month of 2024, data that observed a monthly drop of 0.21 percent and 6.00 percent compared to June 2023.