Mexican oil production inches up 1.1 percent August

Fri Sep 26, 2014 7:44pm EDT
 
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MEXICO CITY, Sept 26 (Reuters) - Crude production at Mexican state-run oil company Pemex nudged up 1.1 percent in August from July to 2.415 million barrels per day (bpd), the company said on Friday.

Crude exports were also higher than the previous month, rising by 9.2 percent to 1.114 million bpd, the figures showed. August saw a sharp increase in exports to Canada, which tripled from the previous month, Pemex said.

Oil output in Mexico, the world's No. 10 crude producer, has plumbed multiyear lows this year and the government hopes that a major reform of its oil industry will bring in billions of dollars worth of investment to reverse the slide.

A change in the constitution last December ended Pemex's 75-year-old oil and gas monopoly in Mexico. (Reporting by Dave Graham and Adriana Barrera; Editing by Lisa Shumaker)