Mexico halts all oil exports,most output, till Wed
Mexico’s closure of most offshore oil production and ports mean the suspension of 2.95 million barrels per day (bpd) in output until midweek and the grounding of all exports, state oil monopoly Pemex said on Monday.
Pemex – which normally produces 3.4 million bpd of crude – said it would start restoring production on Wednesday and should be fully operational again on Friday, after shutting down most oil wells in the Campeche Sound, in the southern Gulf of Mexico, due to Hurricane Emily.
Pemex said port closures in the Gulf of Mexico meant it was suspending all of its daily oil exports of 1.87 million bpd for the time being.
More: today.reuters.com
US Gulf of Mexico oil output 100 pct shut-MMS
Offshore U.S. crude oil production in the Gulf of Mexico was totally shut for the second straight day on Sunday with natural gas output also lower, the U.S. Minerals Management Service said in its daily report logging the impact of Hurricane Rita and the prior Hurricane Katrina.
The MMS said the percentage of oil output shut was 100 percent for both Sunday and Saturday, up from 99.125 percent on Friday. The normal daily oil output from Gulf of Mexico operations is 1.5 million barrels per day.
For natural gas, 8.047 billion cubic feet
Hurricane halts Mexico travel
Tour operators are holding back tourists from the Yucatán Peninsula in Mexico, which was hit by Hurricane Emily last week, until hotels reopen and damage is assessed.
Winds of 125mph swept across the popular holiday region on Monday, killing six and forcing the evacuation of 30,000 tourists in Cancun. Many had to camp in a local gymnasium for the night. Some tourists on the island of Cozumel also had to abandon their hotels.
The hurricane continued to the north-east coast and moved inland, travelling westwards. A hurricane warning remained in effect from La Cruz to the Texas border at
Offshore U.S. crude oil production in the Gulf of Mexico was totally shut on Saturday with natural gas output also lower, the U.S. Minerals Management Service said in its daily report logging the impact of Hurricane Rita and the prior Hurricane Katrina.
MMS said the percentage of oil output shut was 100 percent, up from 99.125 percent on Friday. The normal daily oil output from Gulf of Mexico operations is 1.5 million barrels per day.
The report said 1.5 million bpd of crude oil production was shut as Saturday, in contrast to 1.486 million bpd reported shut on Friday.
For natural
Offshore U.S. crude oil production in the Gulf of Mexico was totally shut on Saturday with natural gas output also lower, the U.S. Minerals Management Service said in its daily report logging the impact of Hurricane Rita and the prior Hurricane Katrina.
MMS said the percentage of oil output shut was 100 percent, up from 99.125 percent on Friday. The normal daily oil output from Gulf of Mexico operations is 1.5 million barrels per day.
The report said 1.5 million bpd of crude oil production was shut as Saturday, in contrast to 1.486 million bpd reported shut on Friday.
For natural gas,
Reuters Summit-Mexico's Pemex sees output flat to 2007
Mexican state oil monopoly Pemex sees crude oil production staying roughly flat this year and next, Chief Financial Officer Juan Jose Suarez said Friday.
Suarez said he saw Pemex's 2007 crude oil output averaging 3.45 million barrels per day, up only a whisker from estimated average production of 3.42 million bpd this year.
"It should be around 3.45 million," he told the Reuters Latin America Investment Summit in Mexico City.
Pemex, one of the top three suppliers of crude oil to the United States, saw its oil production dip to 3.33 million bpd in 2005, partly
UPDATE 1-Mexico July industrial output unexpectedly falls
Mexican industrial output fell an unexpected 1.1 percent in July compared to a year ago, the first decline in four months, as manufacturing output was even weaker than forecasts, the government said on Monday.
Key manufacturing output dropped 2.1 percent in July from a year earlier, according to the finance ministry, with weakness evident in the auto industry from declining car and truck demand in the United States.
Analysts in a Reuters poll had expected a median year-on-year increase of about 2.6 percent in July industrial production. Industrial activity in July rose 0.22 percent from June.
The
Mexico oil output to decline, analysts say
Mexicos oil output will probably decline in the next two years if the country doesnt allow foreign investment to boost drilling, according to Raymond James & Associates.
Production in Mexico may have peaked in 2004, analysts J. Marshall Adkins and Pavel Molchanov wrote in a July 10 report, because the 30-year-old Cantarell field, the worlds second-largest, has reached maximum output, they said. Petróleos Mexicanos, the state oil company, said Aug. 2 that Cantarell production will decline 8 percent this year.
The countrys oil production looks like it already might have peaked -- quite possibly for good,
Oil Falls as Hurricane Concern Eases, Mexico May Resume Output
Crude oil declined for a fourth day in five as concern eased that Hurricane Emily will disrupt U.S. supplies and on expectations that Mexico will resume output from its biggest fields tomorrow.
Emily weakened to Category 1 and is headed for an area on Mexico's northeast coast where there are no oil platforms. Petroleos Mexicanos, Mexico's state-owned oil monopoly, said yesterday it expects production in the Campeche Sound will resume tomorrow after a three-day shutdown of 2.95 million barrels a day, or 86 percent of the country's output.
``I believe
UPDATE 1-Mexico industrial production up 2.1 pct in August
Mexican industrial production rose 2.1 percent in August compared to the same month a year ago, heralding a mild recovery in the dull manufacturing sector which has been dragging the overall economy down.
The median of analysts' forecasts in a Reuters poll had predicted a rise of 2.4 percent in industrial output.
The government said on Wednesday industrial activity in the month grew 0.44 percent compared to July while key manufacturing output increased 2.3 percent in August from a year earlier.
Mexico's industrial output fell an unexpected 1.1 percent in July compared with the year
Mexico Industrial Output Likely Grew 0.8% in July, Survey Shows
Mexico's industrial production probably grew less than 1 percent for a second straight month in July as Hurricane Emily forced state oil company Petroleos Mexicanos to scale back output.
Industrial output rose 0.8 percent from the year-earlier period after increasing 0.7 percent in June, according to the median estimate in a Bloomberg survey of 11 economists. The government is scheduled to release the July report today at 3:30 p.m. New York time.
The hurricane, which reduced Pemex's offshore oil output, added to a slowdown in Mexico's economy that has come as
