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[1/3] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. The reduced production implies that in total Pemex will lose at least 2 million barrels of crude through the end of July, according to Reuters estimates. That means output from Pemex's offshore fields, from which the company extracts most of its oil, will be impacted in the meantime. MOUNTING CLAIMSCantarell, which produced more than 2 million bpd of oil two decades ago, currently produces about 170,000 bpd. Along with Ku-Maloob-Zaap, which contributes some 620,000 bpd from Pemex's northeastern marine region, they provide around 41% of the company's total production of 1.9 million bpd of crude and condensate.
Persons: Pemex, Ana Isabel Martinez, Conor Humphries Organizations: REUTERS, Ciudad del Carmen, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO, Ciudad
[1/3] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Mexico July 7, 2023. The fire started early Friday on the Nohoch-A link platform of the company's Cantarell Field and later moved to a compression complex, killing two people. "Today, 700,000 barrels of losses have been reflected (...) because we closed practically all the wells in the area," Romero said via the company's Twitter account. As of Saturday afternoon, 600,000 barrels of production had resumed, the executive added. Most of Mexico's crude production, approximately 1.6 million bpd, comes from the shallow waters of the Gulf of Mexico.
Persons: Octavio Romero, Romero, Cantarell, Pemex, Marion Giraldo, Anna, Catherine Brigida, Kim Coghill Organizations: REUTERS Companies, Ciudad del, Thomson Locations: Bay, Campeche, Mexico, Handout, MEXICO, Gulf of Mexico, Cantarell, Ciudad
The broken commitment, which has not previously been reported, highlights the struggles of Mexico's oil regulator to rein in Pemex, a powerful state monopoly that is always closely connected to the government. The oil company has in recent quarterly reports stressed it was making efforts to clean up its operations and bring down flaring and other waste. Earlier this year, under increasing international criticism, Lopez Obrador said Pemex would invest $2 billion to improve infrastructure to reduce flaring and methane emissions. The regulator said in 2020 the company wasted 37.7% of the gas from Ku alone through flaring, venting or otherwise. One source said the regulator fined Pemex again for recurrence in 2021 but the oil company started legal proceedings to annul the fine, which are still pending.
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