MEXICO CITY: Crude production at Mexican state oil company Pemex fell by 9.6 percent in 2017, while exports dipped 1.7 percent, figures published by the firm showed on Friday.
On average, Mexico produced 1.948 million barrels per day (bpd) last year and exported 1.174 million bpd. In 2016, output stood at 2.154 million bpd, while exports averaged 1.194 million bpd, according to the Pemex figures.
In December, crude output rose by 0.32 percent from the previous month to 1.873 million bpd, Pemex said. Exports rose by 0.94 percent to 1.401 million bpd, the data showed.
Pemex's output has fallen steadily since peaking at 3.4 million bpd in 2004, although the government hopes a 2013-14 legislative overhaul that ended a decades-long state monopoly will spur higher production in the coming years.
Billions of dollars in investment have been pledged to exploit the country's hydrocarbon reserves, and a major auction of oil and gas fields takes place next week.
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