Mexico Private Sector Oil Output Surges to Record High as Bid Rounds Still Shelved

Private sector oil production in Mexico averaged 73,479 b/d in November, up from 51,907 b/d in November 2020, according to the latest figures from upstream regulator Comisión Nacional de Hidrocarburos (CNH).

The 42% year/year increase marks the highest monthly average for non-state firms since the 2013 constitutional energy reform opened the upstream segment to private investment.

Production from state oil company Petróleos Mexicanos (Pemex), meanwhile, was flat year/year at 1.58 million b/d.

The country’s total oil production averaged 1.65 million b/d, up from 1.63 million b/d in the year-ago month, CNH data show.

Total natural gas production, meanwhile, averaged 3.87 Bcf/d in November, up from 3.8 Bcf/d in November 2020.

Pemex supplied 3.67 Bcf/d of the total, up...