Pemex Sets Oil Output Goal of 3.1 Mln Barrels a Day

Petroleos Mexicanos, the third- biggest oil supplier to the U.S., set a goal of producing an average of 3.1 million barrels of crude oil per day until 2012, even as output at its largest oil field declines.

Pemex, as Mexico’s oil monopoly is known, won’t spare any expense to optimize the production of Cantarell, the offshore oil field where output declined by 12 percent last year, to help keep production from slipping under 3.1 million barrels per day, said Chief Executive Officer Jesus Reyes Heroles.

Bloomberg