Pemex crude production hits 8-month high

Mexico's production of crude oil hit 2.58 million barrels per day in January, an eight-month high for the state-owned Petroleos Mexicanos.

A statement from Pemex last Thursday credits the higher output to stabilisation in production from its Cantarell field in the Gulf of Mexico, which once had been its principle source.

Pemex also points to production from its Ku-Maloob-Zaap field in the Gulf, which has been considered its top producer since 2009.

Pemex says 75 per cent of its January production came from fields in the Gulf.

Meanwhile, crude exports rose 23 percent from a year ago, to 1.44 million barrels per day. The exports generated $3.791 million for Mexico, an increase of 44 per cent compared to January 2010.

- AP