Exports and high prices boost Pemex sale

-
EIU / Infoestrategica

Mexican state oil company Petroleos Mexicanos said Monday that export growth and higher crude prices boosted first-quarter sales.

-

In a filing posted on Pemex's Web site, the company said it exported an average of 1.86 million barrels a day during the January-March quarter, or 2 percent more than a year earlier.

-

The exports fetched an average of US$34.12 (€26.50) per barrel, up from US$26.77 per barrel in the first quarter of 2004.

-

Pemex's total sales during the quarter reached US$17.5 billion (€13.6 billion,) up 14 percent on the year. The company posted a 16 percent rise in pre-tax quarterly profit, which came in at US$10.8 billion (€8.4 billion.)

-

Pemex hands over around three-fifth's of its revenue to the federal government for taxes and royalties.

-

After taxes, the company said it squeezed out a quarterly profit of US$500 million (€388.7 million.) After tax gains are rare at Pemex.

-

Pemex's total hydrocarbon production, though, dropped 2 percent on the year to 3.75 million barrels per day. Crude output fell by 66,000 barrels daily to 3.32 million barrels a day.

-

Pemex blamed the drop in crude production on weather conditions, declines in output at its Abkatun-Pol-Chuc complex and infrastructure work at its Ku-Maloob-Zaap complex, which required some wells to be closed.

-

Natural gas output, meanwhile, rose 2 percent to 4.64 billion cubic feet a day.

Inicia el día bien informado
Recibe todas las mañanas las noticias más importantes para empezar tu día.

-

SOURCE: EIU/ INFO-e

Ahora ve
Desconocidos ataron a un tiburón a un barco y lo arrastraron varios kilómetros
No te pierdas
×