PEMEX’s Domestic Sales Decrease

Domestic sales of oil-derived products from PEMEX decreased by 10.2% in April 2023, compared to the previous month. In April, PEMEX generated MX$68.1 billion (US$3.8 billion) from sales of refined products, including gasoline, diesel, jet fuel, fuel oil, asphalt, natural gas and liquefied petroleum gas (LPG), among others. This amount is approximately MX$7.7 million (US$441 million) less than March.

Sales in April were only slightly above MX$2 billion (US$113 million) higher than what was registered in January 2022, when PEMEX collected MX$66.2 billion (US$3.7 billion), the lowest amount for the year, so far. 

Recent statistics from the state-owned company as of the end of April show a significant 45.5% drop compared to the same month of the previous year when it sold MX$99.2 billion (US$5.6 billion). Month-on-month, PEMEX stopped receiving MX$2.6 billion (US$152.8 million) from the sale of gasoline within the country, representing a decrease of 6.2%. Year-on-year, this decline was 26.4% or MX$14.4 billion (US$8.2 billion).

Regarding diesel, sales went from MX$17.5 billion (US$996 million) to MX$14,314 (US$814 million), which translates to a month-to-month decline of MX$3.1 billion (US$181 million) or 18.2%. Furthermore, on an annual basis, sales of this fuel fell by 39%. Desulfurized diesel also performed poorly. Between March and April of this year, PEMEX experienced a 3.9% decrease in revenue, going from MX$2.1 billion (US$121 million) to MX$2 billion (US$116 million), while the decline in sales from 2022 to 2023 was 32.8% resulting in a loss of MX$1 billion.

PEMEX also faced challenges with LPG sales. Month-on-month, it received 14.4% less revenue, with an annualized difference of 34.8%. In April, it obtained MX$3.6 billion (US$209 million).

Additionally, domestic sales of natural gas from the company decreased by 15.8% between months, going from MX$2 billion (US$118 million) to MX$1.7 billion (US$99 million), a decrease of MX$331 million. Considering the past two years, the difference amounted to 64%.