07/16 Closing Prices / revised 07/17/2024 08:15 GMT |          07/16 OPEC Basket  $84.44   -$0.87 cents 07/16 Mexico Basket (MME) $74.97   -$1.06 cents  | 06/31 Venezuela Basket (Merey)  $69 23   -$1.22 cents| 07/16 NYMEX WTI  August CLQ24  $80.76 -$1.15 cents  | 07/16 ICE Brent Sept  BRNU24 $83.73 -$1.12 cents  | 07/16 NYMEX Gasoline Aug RBQ24 $2.48 -0.6 %  |  07/16 NYMEX  Heating Oil  Aug  RBQ 24   $2.47  -1.8% | 07/16 Natural Gas August NGQ 24    $2.19 +1.4%  | 07/12 Active U.S. Rig Count (Oil & Gas)    584  -1  | 07/17 USD/MXN Mexican Peso   17.6789 (data live)  | 07/17 EUR/USD   1.0910 (data live)  | 07/17 US/Bs. (Bolivar)   $36.5060000 (data BCV)

Pemex Projects Fuel Output to Grow 60% in 2024 on Refinery Boost – Bloomberg

Mexico firm expects 1.05M barrels gasoline, diesel per day. Increased capacity at Dos Bocas plant adds to production rise. (Luis Antonio Rojas/Bloomberg)
Mexico firm expects 1.05M barrels gasoline, diesel per day. Increased capacity at Dos Bocas plant adds to production rise. (Luis Antonio Rojas/Bloomberg)

Scott Squires, Bloomberg News

EnergiesNet.com 01 05 2024

Petroleos Mexicanos is expecting fuel output to increase about 60% in 2024 from the previous year, driven by ramped up production at its Dos Bocas refinery, Pemex’s chief executive officer Octavio Romero Oropeza said in a press briefing Thursday.

Pemex expects to produce 1.05 million barrels of gasoline, diesel and jet fuel per day in 2024, almost 60% more than the 655,000 barrels per day produced last year, Romero said.

The estimate comes as Pemex prepares to increase capacity this year at the Dos Bocas refinery, which is projected to produce about 274,000 barrels per day of fuel by September, Romero said. 

The estimate is a positive sign for the oil explorer, which has suffered from flagging production and revenues that have complicated the company’s efforts to whittle down a hefty debt burden. Government help for the state-owned oil producer has done little to reverse the company’s financial decline, as the administration of Mexico’s President Andres Manuel Lopez Obrador has lavished support on the company with tax cuts and capital injections. 

Also known as Olmeca, Dos Bocas is Mexico’s largest refinery. The facility began operations in September and should reach full rates in 2025, according to the International Energy Agency.

Pemex is also expected to increase crude processing to 1.51 million barrels per day in 2024, which will then grow to more than 1.78 million barrels per day in 2025 and 2026, Romero said.

Last week, Mexico ordered the temporary occupation of a hydrogen plant operated by Air Liquide, at the Miguel Hidalgo refinery in the town of Tula. The plant, which will now be operated by Pemex’s refining arm Pemex Transformación Industrial, is home to one of Mexico’s largest hydrotreaters, which use hydrogen to remove sulfur from diesel and gasoline in the refining process.

bloomberg.com 01 04 2024

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top