In its 2023-2027 business plan, the Mexican state-owned Pemex announced a reduction in refining of at least 455,000 barrels per day.
Pemex indicated that despite the start-up of the new Olmeca refinery, located in Tabasco, they will process less crude than the current 808,000.
The Mexican company had established a ceiling of 1,450 million barrels per day for 2023. However, the new business plan for the period 2023-2037 shows a reduction of 455,000 barrels per day.
During 2022, Pemex made a profit for two quarters. However, during the last one, it reflects losses that have forced the state oil company to request support from the government.
At the moment, they estimate that it will be in 2024 when they reach the ceiling of one million barrels per day. From the oil company, they have indicated that the project to open the Dos Bocas refinery in 2023 will be maintained, although no precise date was given.
(Referential image source: elceo, via web)