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Pemex Refinery Rates Increase Back to 49% in August

REFINING

Oil processing at Pemex refineries increased to the highest since May with utilization rates of 49% in August compared to 47.2% in July according to Bloomberg.

  • Refinery fires in May caused utilization to drop below half of installed capacity after operating at 56.2% of capacity in April. Pemex report the total crude processing capacity from Mexico’s six refineries is 1.627mb/d.
  • Higher Mexican oil exports in September suggests that startup of the new Dos Bocas refinery may be facing delays according to Bloomberg. The refinery will produce finished gasoline in the next 2-3 weeks according to Energy Minister Rocio Nahle in mid September.

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