Mexican oil major's trade surplus $25 bn in 2011

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IANS/EFE | 01 Feb, 2012
Petroleos Mexicanos, or Pemex, said Tuesday it posted a trade surplus of $24.99 billion in 2011, up 28 percent from the prior year.

Exports totaled $55.79 billion, while imports came in at slightly more than $30.8 billion, the state-owned oil giant said in a preliminary statistical report on its performance last year.

Sales of Mexican petroleum and derivatives grew by $15 billion in 2011, compared to the prior year, an increase of 36 percent, Pemex said.

Subsidiary PMI Comercio Internacional sold 1.33 million barrels per day (bpd) at an average price of $101 per barrel to customers in the Americas, Europe and Asia, the state-owned oil giant said.

A total of 185,000 bpd of fuel oil, gasoline, diesel and other petroleum products worth $6.21 billion, or 30 percent more than in 2010, were sold on the international market last year, Pemex said.

Petrochemical exports totalled $260 million, while imports of petrochemical raw materials came in at $125 million, the state-owned oil company said.

Pemex, Latin America's largest corporation and the world's third-largest oil producer, has a monopoly over the Mexican petroleum industry.

The state-owned corporation is the biggest source of revenue for the Mexican Treasury.