Pemex Runs Fall to 58.4% in April and May Have Declined Further in May

Oil processing at Mexico’s Pemex domestic refineries were curtailed in April to 58.4% after fires at two facilities, according to Bloomberg based on company data.

• Runs fell from an eight year high of 65.3% in March. Mexico’s six refineries have name plate total capacity of 1.627m b/d.
• The Salina Cruz and Minatitlan refineries reported fires in the month and rates may continue to decline after a leak from the catalytic plant at the Salamanca refinery last week.
• Pemex’s Tula refinery was also ordered by environmental authorities to reduce processing because of poor air quality in the local area, reducing rates in 18 out of 31 days in May, according to Bloomberg.
• The flagship Olmeca (Dos Bocas) refinery signalled further delays last month according to Reuters reports. The refiner started sending 16.3kbpd of crude to the new refinery in mid May, less than 5% of total capacity at a point it was meant to be producing gasoline and diesel.