Image credits: PEMEX
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Weekly Roundups

PEMEX Crude Exports Continue to Decrease

Thu, 11/04/2021 - 18:10

PEMEX exported an average of 983Mb/d in September, representing a 10 percent decrease when compared to August’s average of 1.098MMb/d, according to figures released this week by the NOC’s Director General Octavio Romero. These August figures also represented a continuous decrease that goes back to 2021’s peak export level of 1.172MMb/d, reached back in July. This is despite the fact that September also saw PEMEX reaching its highest crude production levels in the entire year. However, the NOC’s profits from these exports have remained stable given the year’s continuous increase in oil prices.  

Ready for more? Here’s the Week in Oil & Gas!

No Crude Oil Exports By 2024: AMLO 

President López Obrador announced today that, in the letter he recently sent to US President Joe Biden, he promised not to export crude oil and that “we promise not to extract more than 2MMb/d, which means that at the end of my term, we will not be exporting crude oil. We will process our material and all production will go to the domestic market.”

Illegal Pipeline Tap Explodes in Puebla

On Sunday, an illegal tap on a gas pipeline exploded in San Pablo Xochimehuacan, Puebla, killing one person and injuring 11. According to the authorities, a gas leak was reported at 1:34 a.m., followed by an explosion at 2:50 a.m. Civil Protection, the municipal government, PEMEX, SEDENA and the National Guard arrived at the scene to control the ensuing fire. Yesterday, President Andrés Manuel López Obrador thanked elements of Puebla’s police, Civil Protection and other authorities for preventing a more severe disaster. The president also called on the population to denounce the theft of fuel and gas to end this crime and to reduce the risk of accidents: “We must applaud the work of Puebla’s police, the Army and corporations that helped PEMEX control the fire. It took time because it was a gas pipeline in the middle of the city, one of the most populated areas, so the situation was very serious."

Fuel Oil Is Now PEMEX’s Top Refined Product

PEMEX produced more fuel oil during the first three quarters of 2021 than any other refined product, achieving the highest production ratio of the last five years and further solidifying the NOC’s strategic bet on this controversial resource. PEMEX refineries produced an average of 245Mb/d of fuel oil throughout the first three quarters of 2021, representing 30.56 percent of the average production of 800Mb/d of all refined products. This is not only the highest level of fuel oil production reached during this period for at least the last five years but also the first time in those five years that more fuel oil was produced at PEMEX refineries than gasoline, since only an average of 224Mb/d of gasoline was produced between January and September of 2021.

Mexico’s Emissions Could Rise by 65 Percent With Latest Energy Reform: NREL

According to studies carried out by the National Renewable Energy Laboratory (NREL), an agency under the jurisdiction of the US Department of Energy, the changes and actions proposed by President López Obrador’s latest electric reform could cause an increase of greenhouse gas emissions and electricity prices as high as 65 percent.

Photo by:   PEMEX