PEMEX Secures Investment to Boost Fuel Storage Capacity

PEMEX will receive an investment of US$10.4 billion to enhance its fuel storage capacity, announced Minister of Economy Marcelo Ebrard. This investment aims to support the development of a significant fuel deposit managed by Good Science Energy.

Over the past administration, the NOC has improved its gasoline storage capacity by 34%, increasing its autonomy by 4.3 days and raising its storage capacity to 16.5MMb, ensuring a supply of 17 days. Additionally, crude oil storage capacity has grown by 62%, from 7MMb at the end of 2018 to 12MMb currently.

President Claudia Sheinbaum highlighted that investment schemes in the energy sector will be clearly defined based on the secondary laws of the recently passed energy reform. The goal is to fortify public companies while allowing private sector participation in specific areas. She emphasized that the approach would avoid the “burdensome” public-private partnership schemes of the past, which left the government with significant long-term financing responsibilities while private entities managed operations.

In 2021, PEMEX Logística proposed to the Energy and Environment Security Agency (ASEA) the construction of two caverns for hydrocarbon storage at the Tuzandépetl Strategic Storage Center in Veracruz. This expansion increased the number of cavities from 12 to 14, significantly boosting capacity.

PEMEX stated that since 2018, it has been rehabilitating storage tanks to address the country's energy security needs and support increased hydrocarbon production. The company's infrastructure includes over 80 land and sea terminals for the storage and dispatch of petroleum products nationwide, enhancing the supply chain between production centers, import points, and marketing channels to meet market demands.

On Oct. 14, the Strategic Projects Agency of the State of Quintana Roo (Ageproo) announced that PEMEX’s fuel storage tank installation project is under review, indicating ongoing efforts to further expand storage capabilities.