How Pemex has exceeded its' oil Production Goals. Pemex, under the heading Exploration and Production, in its’ 2017 Annual report, states that it exceeded its production goal for the year. Here is the wording.
“During 2017, and for the second consecutive year, crude oil production was met and exceeded the production goal established at the beginning of the year of 1,944 Mbd. Crude oil production averaged 1,948 Mbd. As compared to 2016, production decreased by 205 Mbd, or 9.5%”
So, production over the year decreased by 205,000 barrels per day. Pemex had a production goal that production over the year would decrease by 209,000 barrels per day. Since it only decreased by 205,000 BOPD the Company exceeded its production target. (No wonder this Company is in trouble it could meet its production targets every year and end up with zero production in about ten years.)