- Wednesday, October 16, 2024
Crude-oil processing at Pemex's six domestic refineries averaged 792,303 b/d in 2023, down nearly 3% from 2022 and well short of the company's 900,000 b/d target.
Pemex, the Mexican state-owned oil company, fell short of its refining targets in 2023. The company reported that crude-oil processing at its six domestic refineries averaged 792,303 barrels per day (b/d) throughout the year, which represents a decrease of almost 3% compared to the previous year. This output is significantly below Pemex's target of 900,000 b/d.
Pemex reached or exceeded the 900,000 b/d goal only in April, when its refineries processed an average of 914,000 b/d. That was the highest rate so far in President Andres Manuel Lopez Obrador's term, which ends later this year.
Pemex managed to meet or exceed the 900,000 b/d goal only in April 2023, when its refineries processed an average of 914,000 b/d. This achievement represented the highest rate observed during President Andres Manuel Lopez Obrador's term, which is set to conclude later this year.
Revitalizing Pemex's aging infrastructure and increasing the company's fuel production has been among the administration's key goals.
The revitalization of Pemex's aging infrastructure and the advancement of fuel production have been central goals for the current administration.
Pemex said its 315,000-b/d Tula refinery led the company's fleet in 2023, processing an average of 190,967 b/d of oil, up 6.4% from a year ago.
In 2023, Pemex's Tula refinery, with a capacity of 315,000 b/d, emerged as the leading facility within the company's fleet. The refinery processed an average of 190,967 b/d of oil throughout the year, indicating a 6.4% increase compared to the previous year.
The company's 190,000 b/d Madero refinery had the lowest processing rate last year, running at an average rate of 75,646 b/d, down 22% from the same period 2022.
On the other hand, Pemex's Madero refinery, with a capacity of 190,000 b/d, exhibited the lowest processing rate in 2023. The refinery operated at an average rate of 75,646 b/d, representing a decline of 22% compared to 2022.
Pemex said it produced an average of 252,200 b/d of gasoline, 134, 562 b/d of diesel, and 36,259 b/d of jet fuel last year. Gasoline and diesel production were down 7% and 8.1%, respectively, from 2022.
In terms of fuel production, Pemex reported an average output of 252,200 b/d of gasoline, 134,562 b/d of diesel, and 36,259 b/d of jet fuel in 2023. However, gasoline and diesel production experienced declines of 7% and 8.1%, respectively, compared to the previous year.
The refineries also produced an average of 260,702 b/d of fuel oil in 2023, accounting for 32% of the company's total output.
Additionally, the refineries collectively generated an average of 260,702 b/d of fuel oil in 2023. This accounted for approximately 32% of the total output produced by Pemex.
Pemex Chief Executive Octavio Romero Oropeza in early January said he expects Pemex to process an average of 1.5 million b/d of crude oil this year, including output from its new, but still not fully operations, 340,000 b/d Dos Bocas refinery in Tabasco state and its Deer Park refinery near Houston. He said he expects Pemex's six older refineries will account for 1 million b/d of that total.
At the beginning of the year, Pemex Chief Executive Octavio Romero Oropeza expressed his expectations of the company processing an average of 1.5 million b/d of crude oil in 2023. This projection includes the production from Pemex's newly constructed Dos Bocas refinery in Tabasco state, which has not reached full operational capacity yet, as well as the output from the Deer Park refinery near Houston. Romero Oropeza estimated that Pemex's six older refineries would contribute 1 million b/d towards this total.
Lopez Obrador has said he wants Mexico to become self-sufficient in fuel production before he leaves office in September. Pemex has projected the country will import an average of 300,000 b/d of gasoline, diesel and jet fuel this year, before imports fall to an average of 62,000 b/d in September.
President Lopez Obrador has expressed his desire for Mexico to achieve self-sufficiency in fuel production prior to his departure from office in September. Pemex has projected that the country will import an average of 300,000 b/d of gasoline, diesel, and jet fuel in 2023. However, this figure is expected to decrease significantly to an average of 62,000 b/d by September.
--Reporting by Karla Omaña; Editing by Jeff Barber
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