Image credits: PEMEX
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Weekly Roundups

The Second Largest Refinery in the Country Remains Blocked

By Paloma Duran | Thu, 10/14/2021 - 11:14

The Tula refinery, the second largest refinery in the country, remains blocked due to protests from teachers demanding back wages. The refinery has a capacity of 315.00 barrels per day and mainly supplies the Mexico City metropolitan area. However, due to road blocks that began in September supply has become difficult. As a result, PEMEX has been forced to reduce production.

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

PEMEX Suppliers in Pandora Papers Underscore Corruption Issue

The owners of at least four major providers of Mexico’s national oil company PEMEX have appeared in the infamous Pandora Papers. Though their practices are not illegal per se, the issue has implications for the NOC as well as for the government’s anti-corruption platform.

Fuel Terminal Built to Service Valero Energy

MEXPLUS Puertos is set to invest US$200 million to construct Mexico´s most modern fuel terminal to service Valero Energy, the leading US refiner and one of the world’s largest fuel producers. This project promises a high-quality product in northern Mexico through a supply-led strategy against competitors’ brand-led approach.

Tampico’s Port Registers Cargo Recovery in August

The Integrated Port Administration (API) has registered a total of 670,919 metric tons of cargo movement in the port of Tampico, the busiest port in the state and one of the main ports in Mexico. These numbers represent an increased activity from PEMEX. When measured against July figures, the latest numbers signal a healthy recovery.

US Oil Prices Skyrocket

On Monday US benchmark oil is set “on fast track,” hitting the US$80 per barrel mark, as a result of the unfolding global-scale energy crisis, caused by the severe affectations to oil production in the Gulf, and skyrocketing demand for crude.

Shell Adjusts its Forecasts for 3Q21

Several companies with operations in the US side of the Gulf shut down operations late in August when Hurricane Ida made its way as a tropical storm. During the earlier days, as reported by MBN, upwards of 90 percent of production had been affected, and by the time other storms menaced the region in late September, about 16 percent of the infrastructure was still offline. Today, Shell is warning that the Ida effect will reflect a 5 to 8 percent drop in operations for 3Q21.

The data used in this article was sourced from:  
Reuters,MBN
Photo by:   PEMEX
Paloma Duran Paloma Duran Journalist and Industry Analyst