Pemex Refinery Runs Fall Well Short of 1mn bpd Target

Crude processing at Mexican state oil company Pemex's domestic refineries fell in July to 768,732 bpd in July – well below its 1mn bpd target.

• Crude processing at Mexican state oil company Pemex's domestic refineries fell in July to 768,732 bpd, narrowly up from last years average of 815,790 bpd.
• The company is still waiting to boost runs from its Olmeca refinery on the Gulf Coast port of Dos Bocas which has been hit by numerous delays despite its inauguration last year.
• Pemex imported 317,879 bpd of gasoline and 142,167 bpd of diesel in July, compared to domestic production of 265,771 bpd of gasoline and 153,553 bpd of diesel.
• Pemex's total crude production was 1.573 million bpd in July, the lowest level this year. Including rising condensate production, total production rose to about 1.8mn bpd.
• Mexican president Lopez Obrador's has sought to increase domestic refining to try and stop having to rely on imports from the US.