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Published on Tuesday, May 9, 2023

Mexico | Lower prices impact Pemex’s total sales

Summary

The production of new fields in the first quarter of 2023 averaged around 199 thousand additional barrels a day to the production registered during the first quarter of 2022.

Key points

  • Key points:
  • The production of liquid hydrocarbons in the first quarter of 2023 showed an annual increment of 98 thousand barrels a day with contributions of -107 thousand barrels a day from Pemex and 205.3 thousand barrels a day from condensates.
  • Lower prices affected Pemex’s export and domestic sales, which posted an annual decrease of 30.0% and 8.3% in the first quarter of 2023, respectively.

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Documents and files

Report (PDF)

Observatorio-Pemex-al-1T23.pdf

Spanish - May 9, 2023

Authors

AR
Arnulfo Rodríguez BBVA Research - Principal Economist
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