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Latino Daily News

Tuesday July 29, 2014

PEMEX Reports Lower Trade Surplus

Mexican state-owned oil company Petroleos Mexicanos posted an $8.2 billion trade surplus in the first half of 2014, down 20.42 percent from the same period of last year.

The company’s exports of crude, refined products, natural gas and petrochemicals were valued at $22.5 billion, down 7 percent from the first half of last year, Pemex said in a statement Tuesday.

By contrast, the value of the company’s imports of refined products, natural gas and petrochemicals between January and June came in at $14.3 billion, 3 percent higher than the same period of 2013, it added.

During that six-month period, Pemex exported 1.14 million barrels of crude per day - at an average price of $94.80 per barrel - to its customers in the Americas, Europe and the Far East, down from 1.17 million barrels per day in January-June 2013.

Maya heavy crude accounted for 80 percent of the total, while Isthmus light crude and super-light Olmeca crude made up 12 percent and 8 percent, respectively.

The oil giant exported $2.9 billion worth of refined products such as gasoline and diesel while imports of those products amounted to $12.7 billion.

Pemex sold $77 million worth of petrochemicals on the international market during the first half of this year, while its imports of those products amounted to $87 million.

In 2013, Petroleos Mexicanos posted a $20.3 billion trade surplus, down 3.5 percent from 2012.


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