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Pemex Targets 1.16mn bpd Runs by End of 2023

REFINING

Mexican state refiner Pemex expects to process 1.16mn bpd of crude by the end of 2023 its CEO Octavio Romero said Monday.

  • In August, crude oil processing at Pemex’s domestic refineries stood at about 797,000 bpd, down from an average of 816,000 bpd last year.
  • He said that Pemex will process 1.61mn bpd in 2024.
  • Pemex has struggled to ramp up its refining operations and the sector of the business is usually responsible for substantial losses drawing questions around its ability to reach these new targets.
  • A key policy of the Mexican President Andres Manuel Lopez Obrador is to not rely on foreign suppliers for its gasoline and diesel need – most of which comes from US Gulf suppliers.
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Mexican state refiner Pemex expects to process 1.16mn bpd of crude by the end of 2023 its CEO Octavio Romero said Monday.

  • In August, crude oil processing at Pemex’s domestic refineries stood at about 797,000 bpd, down from an average of 816,000 bpd last year.
  • He said that Pemex will process 1.61mn bpd in 2024.
  • Pemex has struggled to ramp up its refining operations and the sector of the business is usually responsible for substantial losses drawing questions around its ability to reach these new targets.
  • A key policy of the Mexican President Andres Manuel Lopez Obrador is to not rely on foreign suppliers for its gasoline and diesel need – most of which comes from US Gulf suppliers.