Mexico exported about 92 million barrels to the US between January and May. It represents a 16.3% fall comparing to the same period last year, when the country sent 110 million barrels, according to a US Department of Commerce (DOC) report.
According to the Mexican Association of Petroleum Industry (Amipe), Pemex in platforms contract renewal, has made the determination to temporarily suspend 20, renew another 20 and cancel the remaining (13).
Currently José Antonio González Anaya, CEO of Petróleos Mexicanos (Pemex), is in London, seeking agreements with European investors for the first farm-out in the Gulf of Mexico.
The latest extraction data for May, published by Pemex, is not very positive because production stood at 2.17 mmbbl, which shows a drop of 2.3% compared to the same period last year; production at that time was 2.22 mmbbl.
Noticing the threat posed by dependence on oil exports to one country (USA), Pemex has been implementing a strategy of market diversification since 2011. Crude sales to its main buyer, the US, have fallen 37% (2011-2015), from 1.24 mmbbl to 691 mbbl, mostly because USA has gone from being an importer to producer.