Mexico 'likely' to boost exports if OPEC hikes output

Mexico 'likely' to boost exports if OPEC hikes output: Calderon

La Jolla, California (Platts)--17May2004


Mexico will "likely" raise its crude export level, currently at 1.86-mil b/d,
if OPEC decides to increase its formal production ceiling, Mexican Energy
Secretary Felipe Calderon said Monday.

But Calderon, during a press conference on the sidelines of the 13th Latin
American Energy Conference here, cautioned that any increase would be
"marginal." 

He declined to speculate how much Mexico would increase its exports if OPEC,
as expected, boosts its quota sometime over the next three weeks. 

"We will continue to promote stable markets in...oil," he said. "It's not easy
to increase production" by large volumes in a short period of time in any
case, he added. 

The minister said he plans to contact some OPEC ministers -- he did not
specify which ones -- in making a decision on Mexico's appropriate export
level should OPEC quotas rise. One likely opportunity would be at the upcoming
International Energy Forum in Amsterdam later this week.

Saudi Oil Minister Ali Naimi last week proposed that OPEC raise its current
ceiling by 1.5-mil b/d to 25-mil b/d. OPEC ministers will discuss the proposal
in Amsterdam, and could ratify it then or at their next formal conference June
3 in Beirut. 

Calderon noted Mexico's Congress has set a goal of 1.96-mil b/d
of crude exports.

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