Pemex reported another substantial decline in gas and liquids production in September, with Crude down 1.4% and Natural Gas down 1.2% on the month.
Crude output fell 31 KBOPD from August to a new low of 2.11 million barrels per day, a 7% annual decline.
Natural Gas fell 67 MMCFD on the month, a 13.2% annual decline. A 0.85 BCFD decline in 1 year is substantially more than the total increase in NG exports to Mexico from the U.S. The largest gas production declines were in onshore, non-associated production. Crude declines were more evenly spread across grades and regions, though the northern region was unchanged, an area of low production to begin with.
