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MEXICO CITY—Mexico’s Petróleos Mexicanos (Pemex) is eying a slight uptick in both liquids and natural gas production in 2024 compared to present levels.
State-owned Pemex expects liquids production to reach 2 million barrels per day (MMbbl/d) in 2024 compared to current average production of 1.9 MMbbl/d and 1.7 MMbbl/d in 2018, Pemex E&P Social Responsibility Manager Orlando Camarillo said on March 22 during the two-day AAPG-Energy Opportunities event in Mexico City.
Gas production is expected to average 4.8 billion cubic feet per day (Bcf/d) in 2024 compared to 4.3 Bcf/d currently and 3.8 Bcf/d in 2018, the executive said. Oil processing capacity is expected to remain flat at 1.2 MMbbl/d in 2024 compared to current rates and 0.5 MMbbl/d in 2018.
The executive attributed the higher production and capacity rates to efforts undertaken by Mexico’s President Andrés Manuel López Obrador (AMLO).
“Unlike previous governments, [AMLO’s] administration set objectives and a course of action to rescue the oil industry and achieve energy sovereignty,” Camarillo said.
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