Low Oil Production: The Week in Oil and Gas

National oil production hit its lowest in 15 months. Meanwhile, according to Bloomberg Línea, the Ministry of Finance’s projection for Mexican oil stands at a low US$58/b.

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National Production Hits Lowest in Fifteen Months

National oil production in Mexico fell to its lowest level in 15 months. Mexico produced 1.87MMb/d of crude oil and gas condensates, the lowest level since November 2022 when the country extracted an average of 1.86MMb/d. National oil production in the country also accumulated a consecutive drop of seven months.

CNH Approves Extension for Exploration for Wintershall Dea

CNH approved Wintershall Dea México's request to extend the Initial Exploration Period with respect to the contractual area AS-CS-14, located in Cuencas del Sureste associated with Contract CNH-R03-L01-AS-CS-14/2018.

PEMEX Refinery Spill in Deer Park Contained

PEMEX’s Deer Park refinery in Texas reported an oil spill in the Houston Ship Channel, prompting immediate containment measures. The spill occurred when oil overflowed from a sump at the Deer Park refinery, as confirmed by the US Coast Guard.

Ministry of Finance’s Projections on Oil Price

Bloomberg Línea reported that the Ministry of Finance estimates that Mexico will grow 2.5% in 2025 and that the price of oil will be US$58/b, lower than this year’s, in accordance with the Pre-General Criteria for Economic Policy 2025.

Xóchitl Gálvez Shows Moderated Discourse Regarding Oil, Criticizes Flaring

In an interview with Energy21, presidential candidate Xóchitl Gálvez discussed energy policy and recognized oil as a valuable resource. However, she spoke against this administration’s focus on fossil fuels and described flaring as nonsense.