PEMEX Sees Sixth Months of Increased Fuel Oil Production
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PEMEX Sees Sixth Months of Increased Fuel Oil Production

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Mon, 05/29/2023 - 12:43

PEMEX saw its sixth consecutive month of increases in fuel oil production in April. During the fourth month of the year, the oil company produced 322.5Mb/d, a monthly increase of 4.9%, according to the latest statistical report from the company. Production grew 42.7% on an annual basis. Additionally, this was the highest volume of fuel oil production since 2019 when 355.4Mb/d were recorded, according to state data.

In April, state gasoline production reached 291.3Mb/d, representing a 5.8% monthly increase. In addition, compared to the fourth month of 2022, production increased by 46.9% according to the report. Meanwhile, diesel production recorded 162.4Mb/d, which represented a 5.2% monthly growth and a 68.6% annual increase.

In total, PEMEX's production of oil-derived products, which includes other fuels such as kerosene and liquefied gas, reached a 5.6% increase in April compared to March. The current federal administration seeks to boost fuel production with the aim of achieving self-sufficiency. In addition to the purchase of the Deer Park refinery and the construction of Dos Bocas in Tabasco, the government has also allocated resources for the rehabilitation of the National Refining System (SNR).

The increase in crude oil processing has allowed PEMEX to increase its production of oil-derived products, including fuel oil. The state-owned company aims to transform this residual fuel into products such as gasoline through the use of two coker units, the first of which will be ready in the second half of 2024, while the second has been delayed until 2025. 

"Regarding the Tula coker unit, it is 70% complete. However, the overall project, including plants and auxiliary services, is at 50%. We expect its completion in 3Q24. Salina Cruz is just starting, with a 10% progress, and we will finish that project in 2Q25," said Reinaldo Wences, Deputy Director of Evaluation and Compliance, PEMEX Industrial Transformation.

Photo by:   PEMEX Twitter

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