Mexico's Pemex Faces Realities in Quest for Self-Sufficiency

March 20, 2023--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petroleos Mexicanos (Pemex) (Mexico City, Mexico) is expected to produce about 2 million barrels per day (BBL/d) of liquid hydrocarbons by the end of this year, up from the 1.915 million BBL/d registered in March, according to a presentation from Pemex Director Octavio Romero Oropeza.

Meanwhile, natural gas production is projected to grow to 4.811 billion cubic feet per day by 2024, a 14% increase from the 4.224 billion cubic feet per day produced in March, according to Oropeza, who last week detailed Pemex's goals for the next two years and gave a balance of its performance.

But Pemex has set similar goals in the past, only to come up short.