Weekly Report - 25 January 2007

MEXICO | Oil. Mexico's state oil company, Petróleos Mexicanos, reported that its oil exports came to US$38.7bn in 2006, while its net imports of refined products came to US$11.1bn. Pemex said that its oil exports were US$7bn higher than in 2005. In volume terms, the company said that its average daily export of crude oil was 1.79m bpd in 2006. It also shipped US$3.7bn worth of refined products and imported US$9.8bn worth. The company also exported US$240m worth of petrochemicals and imported US$126m worth. Significantly, the company's bill for imports of natural gas fell by 19% to US$1.1bn from US$1.4bn in 2005. Pemex has a monopoly on oil production, exporting and importing.

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