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Mexico’s petroleum revenues fall nearly 37%

Mexico’s petroleum revenues fall nearly 37%

MEXICO CITY: Mexico’s oil revenues fell 36.7 percent year-on-year during the first 11 months of 2015 to 724.1 billion pesos ($40.71 billion), the Finance and Public Credit Secretariat said.
“This result is explained by the 49.2 percent drop in the price of the Mexican export petroleum blend, which fell from $91.50 per barrel in 2014 to $46.50 in 2015,” the secretariat said in a statement.
Oil production fell 7.2 percent and the price of natural gas plunged 33.8 percent during the January-November period, compared to the same period in 2014, the secretariat said.
“These effects were partially offset by the depreciation in the exchange rate,” the secretariat said.