Mexico's Pemex pumps less, refines more at home in October, data shows
Mexican state energy company Pemex pumped 4.4% less crude oil and condensate in October year-on-year, or 1.64 MMbpd, although it refined more at home, data showed.
Pemex attributes the sustained decline in crude oil production, which currently averages 1.36 MMbpd, down 6% year-on-year, to the lack of relevant discoveries and the natural decline of several key fields.
Its seven local refineries refined 43% more year-on-year, reaching 1.04 MMbpd, helped in part by the Olmeca refinery in the port of Dos Bocas, which processed 191,657 bpd. In October last year, it refined nothing.
Pemex produced 1.09 MMbbl of petroleum products, up 12.6% year-on-year, the data released on Tuesday showed. Of this, 324,992 bpd were gasoline, 255,626 bpd were diesel, 239,682 bpd were fuel oil.
Domestic sales of these and other products, as well as gas, rose 9% year-on-year to 1.3 MMbpd. Imports of petroleum products and gas fell 20% to 455,263 bpd over the same period. Meanwhile, crude oil exports rose 18% to 626,791 bpd.
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