Mexico to reduce oil exports to US in 2008

LOS ANGELES, Apr. 29 — Mexico will reduce its crude oil exports to the US by an average of 184,000 b/d throughout 2008, a situation that could continue for 2 years longer, reported a Mexican media outlet.

Citing PMI Comercio Internacional, the Petroleos Mexicanos affiliate in charge of marketing, El Universal newspaper said a reduction in US-bound exports for 2008


It said the original plan for oil exports in 2008 envisioned some 1.678 million b/d heading to the international market, but the sales volume at the end of the first quarter stood at 1.499 million b/d, or 179,000 b/d less than initially anticipated.

El Universal said the US Energy Information Administration earlier this month predicted a 13.2% shortfall of imports from Mexico during the current fiscal year. According to EIA figures, Mexico exported 1.533 million b/d to the US in 2007.

PennEnergy