MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

Activity data stronger-than-expected; little impact on near-term monpol

MNI: GERMANY JUNE FINAL HICP +2.5 % M/M, +0.2% Y/Y

MNI: GERMAN JUN CPI +2.2 % Y/Y

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

US Refiner Valero Still Expects Mexican Fuel Import Demand to Grow

REFINING
Energy BulletsHomepageBulletCommodities

US refiner Valero still expects fuel demand in Mexico to grow, despite its aims for fuel self-sufficiency.

  • “Even with added capacity from the new Dos Bocas refinery, Mexico cannot generate enough diesel, jet fuel and gasoline to meet demand,” Valero Mexico General Director Carlos Garcia said. “There’s always going to be a need to import fuel into Mexico.”
  • Even with the new Dos Bocas refinery, Mexico will still face a ~500,000 bpd fuel deficit to meet current market demand of around 1.3 mn bpd, Garcia said.
  • Dos Bocas is expected to operate at 340,000 bpd in September but has been hit by numerous setbacks.
104 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.

US refiner Valero still expects fuel demand in Mexico to grow, despite its aims for fuel self-sufficiency.

  • “Even with added capacity from the new Dos Bocas refinery, Mexico cannot generate enough diesel, jet fuel and gasoline to meet demand,” Valero Mexico General Director Carlos Garcia said. “There’s always going to be a need to import fuel into Mexico.”
  • Even with the new Dos Bocas refinery, Mexico will still face a ~500,000 bpd fuel deficit to meet current market demand of around 1.3 mn bpd, Garcia said.
  • Dos Bocas is expected to operate at 340,000 bpd in September but has been hit by numerous setbacks.