Mexico’s Pemex Reports Record Foreign Oil Earnings, Volume Down

Petroleos Mexicanos, the state oil monopoly, reported record earnings from crude exports in the first nine months of the year of $27.3 billion as it shipped an average of 1.84 million barrels of oil a day. The state oil company, hampered by years of under investment, saw its export volume dip from 2.05 million barrels a day in January to 1.68 million barrels a day in September as overall production declined to 3.26 million barrels a day from 3.43 million barrels a day a year earlier. The company has earned $54.5 dollars for every barrel exported so far in 2006.