MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Surging Mexican HSFO Output Heading to USGC

REFINING
Energy BulletsHomepageBulletCommodities

Mexico has seen an HSFO output surge as it ramps refinery runs higher, resulting in record flows of the grade to the USGC, an area expected to remain the main recipient for the foreseeable future according to Platts sources.

  • Pemex's fuel oil output rose to an average of 348,500 b/d in March, up by 49,300 b/d from February. It is the highest monthly production since July 2010, when output was 355,499 b/d.
  • The majority of Pemex's fuel oil output for March was exported – a record 278,300 b/d, above the previous high of 262,800 b/d the month prior.
  • Platts sources report high availability of HSFO cargoes coming out of Mexico but that the excess volume of the grade is placing constraints on vessel availability.
124 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Mexico has seen an HSFO output surge as it ramps refinery runs higher, resulting in record flows of the grade to the USGC, an area expected to remain the main recipient for the foreseeable future according to Platts sources.

  • Pemex's fuel oil output rose to an average of 348,500 b/d in March, up by 49,300 b/d from February. It is the highest monthly production since July 2010, when output was 355,499 b/d.
  • The majority of Pemex's fuel oil output for March was exported – a record 278,300 b/d, above the previous high of 262,800 b/d the month prior.
  • Platts sources report high availability of HSFO cargoes coming out of Mexico but that the excess volume of the grade is placing constraints on vessel availability.