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Refining Capacity Offers Opportunity

Sun, 07/01/2018 - 13:23

On a global level, Mexico represents the sixth-biggest market for gasoline commercialization, the ninth for natural gas and the third for LPG. With good growth prospects of over 2.5 percent annually, the country contrasts with other markets where stagnation is expected. But Mexico has operated its refineries at low efficiency levels that in some cases fall to 25 percent. PEMEX acknowledged this problem in its 2017-2021 business plan and announced it is working toward reverting the economic and operational losses at its industrial transformation business unit that total almost MX$100 billion. By increasing maintenance and raw materials availability and developing strong partnerships, the NOC expects to bring numbers back into the black and to reduce its importation of refined products, which during 2017 accounted for 892,000b/d.