During the two-month period Pemex produced an average of 2.6m barrels of oil per day (bpd), compared to the 2.5m bpd it produced during the same period last year. All this allowed Pemex to export US$1.14bn in refined petroleum products during the first two months of the year, an amount 12% higher than the corresponding 2012 figure. Meanwhile gasoline fuel imports fell from 350,000 bpd to 317,000 bpd between the last two months of 2012 and the first two months of 2013. Only the value of natural gas imports increased during the period, but mostly due to the increase in global natural gas prices on the back of increased demand for the fossil fuel worldwide.
However, local experts have warned that despite the increase in productivity recorded between this and last year, Pemex is still in need of a new business strategy that involves private investment if it wants to sustain itself in the long-run. Production at the larger mature deposits in the Gulf of Mexico, for instance, is in decline and will not hold out for much longer. Analysts point out that Pemex needs to invest in new technologies enabling it to explore new areas and ensure more access to other oil deposits.
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