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Pemex Cuts Crude Exports to Lowest on Record

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Mexico’s Pemex has cut its crude exports to the lowest level on record as the government looks to redirect crude to its domestic refineries, according to Bloomberg.

  • Pemex exported 686.8k b/d in March, the lowest level since Pemex began tracking the data in January 1990.
  • This represents a fall of 27% on the month.
  • On April 1, Bloomberg reported that Pemex was cancelling export contracts for crude to keep supply domestically.
  • The Americas was the region most affected by the drop in exports, down 34% on the month to 403.15k b/d.
  • Exports to Europe fell 17%, while exports to the Far East were down 9%.
  • Mexico’s President AMLO insists that Pemex will meet all of Mexico’s gasoline and diesel demand, but Pemex continues to be set by multimillion dollar losses.
  • The new 340k b/d Dos Bocas refinery continues to be set with delays.
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Mexico’s Pemex has cut its crude exports to the lowest level on record as the government looks to redirect crude to its domestic refineries, according to Bloomberg.

  • Pemex exported 686.8k b/d in March, the lowest level since Pemex began tracking the data in January 1990.
  • This represents a fall of 27% on the month.
  • On April 1, Bloomberg reported that Pemex was cancelling export contracts for crude to keep supply domestically.
  • The Americas was the region most affected by the drop in exports, down 34% on the month to 403.15k b/d.
  • Exports to Europe fell 17%, while exports to the Far East were down 9%.
  • Mexico’s President AMLO insists that Pemex will meet all of Mexico’s gasoline and diesel demand, but Pemex continues to be set by multimillion dollar losses.
  • The new 340k b/d Dos Bocas refinery continues to be set with delays.