Pemex’s Oil Production Increase Is More Illusion Than Reality ...Middle East

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Pemex’s Oil Production Increase Is More Illusion Than Reality
source : OILPRICE ( Middle East ) () 9
Mexico’s Pemex reported its oil production grew last year, for the first time in fifteen years. However, there’s a big catch—the increase was only a result of how the company is counting barrels, Bloomberg reports. And anyone trying to compare production figures from year to year will run into a problem of comparing apples to oranges. The change in calculations is pretty straightforward; Pemex simply started adding gas condensate output to the total crude oil production it counts. Without condensates, Pemex and its partners produced…

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