Pemex Still Struggling to Restore Oil Production

by Peter Millard Dow Jones Newswires Monday, October 06, 2008 MEXICO CITY (Dow Jones Newswires), October 6, 2008 Pemex is still struggling with oil production issues that forced the Company to shut in 250,000 barrels nearly two weeks ago. The amount of production shut in has fluctuated between 150,000 barrels a day and 250,000 barrels a day during the period, and is still not back to normal, a company spokesman said Monday. He said the company will have more information later Monday. The episode will erode Pemex's overall production numbers for September and October. A combination of storm-battered refineries in the U.S. canceling crude shipments from Mexico and port closures along Mexico's Gulf coast led to the shut in. In late September Pemex filled its crude storage facilities to the brink because of the export problems,... [read full story]