Refinery

Pemex refineries report unexpected profits thanks to high oil prices and government stimulus

International refiners are posting high profit margins and Pemex has been no exception. The state company reported profits after more than three years without doing so.

How the refining business is affecting Pemex's rating

The agencies warned from the first months of the six-year term that the goals that Pemex set for the refining business would put the finances of the state company in trouble.

The construction of Dos Bocas exceeded Pemex's goal for 2021 by 52%

The federal government wants to inaugurate the project in July, although it is not clear whether the refinery will be fully utilized by then.

Pemex advances in its plan and its refineries mark their highest production since 2017

The increased use of the complexes in January also resulted in a significant increase in gasoline production.

The end of Mexican crude exports will affect US refineries

Mexican crude has become an important part of the diet of refineries in the neighboring country. Stopping foreign sales would mean changes in the market dynamics.

Pemex takes control of the Deer Park refinery, after closing its purchase with Shell

The national oil company has not given details on the volume of refined products that Mexico will receive from the plant in Texas, which has the capacity to process 340,000 barrels per day (bpd).

Mexico is not the only country that is betting on new refineries

At least 80 other refineries are currently under construction, expected to enter operations in 2025. Most are in the Middle East and Asia.

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