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Pemex Refineries Run Below 50% Capacity for Fifth Month

OIL PRODUCTS

Mexico’s Pemex is running its six refineries at less than 50% capacity amid continued fallout from fires which occurred in May, according to Bloomberg.

  • Utilisation rates declined to 47.2% in September, compared to 49% in August.
  • Refineries have been operation below 50% since May, after half of its refineries suffered fires. Before the fires it had operated at 56.2% capacity.
  • Mexico’s six refineries have capacity to operate 1.627m b/d.
  • Pemex did not release details of the output from its Dos Bocas refinery which opened in September, Pemex estimated that the refinery would process around 2.1m bbl this year.
  • However, four-year high crude oil exports from Mexico in October imply the start-up of Dos Bocas may be delayed.
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