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Mexico Targets Minimal Fuel Imports by 2024

REFINING

Mexico is committed to minimize fuel imports by 2024 according to Pemex CEO Octavio Romero Oropeza.

  • Mexico expects to produce 1.36 million b/d of fuels in 2024, when its Dos Bocas refinery, currently under construction, becomes fully operational.
  • Along with Pemex’s Deer Park refinery in Texas, Mexico's imports will be marginal at around 34,000 b/d in 2024, Romero Oropeza said. Imports were 900,000 b/d in 2019.
  • In 2023, production of fuels is expected to grow to 1.1 million b/d from 686,000 b/d in 2022 as Dos Bocas begins operations in the second half of the year, Romero Oropeza said. Imports are expected to fall to 232,000 b/d from 598,000 b/d in 2022.
  • If fulfilled, the near self-sufficiency of Mexico will serve as a blow to US Gulf refiners that typically supply the majority of Mexico’s’ road fuels.
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