Company figures released Tuesday night also indicated that 60% of shipments were destined for the United States.
Oil exports from Mexico's state-owned oil company Pemex rose to 709,793 barrels per day (bpd) in February, up 33% from January, when they plummeted 44% year-over-year amid oil salinity issues, but they were down 25% year-over-year.
Company figures released Tuesday night also indicated that 60% of shipments went to the United States (America), with 428,357 barrels per day (bpd), mostly Maya.
Pemex's commercial arm (PMI), Margarita Pérez, said Tuesday that the company is seeking alternative markets for its oil exports as well as product imports, confirming a Reuters exclusive on the matter earlier this month.
Crude oil and condensate production rose marginally in February compared to January to 1.77 million bpd, up 0.5% but still 10.5% lower than the same month last year, amid a gradual decline in production over the past several months, which Pemex has attributed to the depletion of several key fields.
Oil-only production was relatively stable at 1.37 bpd, following months of steady declines in recent years.
In the second month of 2025, Pemex increased crude oil processing at its local refineries by 0.8% to 898,153 bpd, but it was down 4% year-over-year. The much-hyped new Olmeca refinery, with a capacity of 340,000 bpd, processed just 6,797 bpd after nothing in January when it was reportedly affected by crude oil salinity issues.
Pemex produced 334,791 bpd of gasoline in February, up 8% year-over-year, and 168,452 bpd of diesel, very similar to the volume for the same month in 2024. It also reduced fuel oil production by 26% to 220,752 bpd, of which it exported 183,426 bpd.
Meanwhile, gasoline imports in February were 33% lower year-on-year and 15% lower than in January.
The government has stated that it aims to increase crude oil production to 1.8 million barrels per day during its six-year term, with the aim of processing the majority of the crude oil domestically and producing the fuels the country needs, as well as ceasing crude oil exports.
The company is saddled with nearly US$98 billion in financial debt, as well as another US$25 billion with suppliers, which it says it has been paying in recent months.
President Claudia Sheinbaum said Wednesday that some 147 billion pesos (US$7.332 billion) have been paid to suppliers, but did not provide further details.
