Mexico Oil Production Down 9 Percent

  21 January 2009

Mexico's state-run oil company, Pemex, said its 2008 production of crude oil fell 9.2 percent from 2007.

Pemex said Wednesday that daily production last year dropped to almost 2.8 million barrels compared to three million barrels the year before.

The oil company blamed bad weather and operational factors at its biggest oil field, Cantarell, for the production 2008 shortfall.  Exports were also down 16.8 percent last year.  

Mexican President Felipe Calderon has sought more private investment in Pemex to boost falling production.  Opponents have said opening the struggling oil industry to private interests would threaten Mexico's sovereignty.

Mexico is a major oil supplier to the United States.   

Some information for this report was provided by AFP, AP and Reuters.

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