Pemex Oil Exports Fall Despite Rally, Gasoline Imports Rise
- Company exported less crude, imported more gasoline in June
- Pemex operations affected by weather, lack of infrastructure
The Pemex Dos Bocas Refinery in Paraiso, Tabasco state, Mexico.
Photographer: Cesar Rodriguez/BloombergThis article is for subscribers only.
Pemex’s oil exports are falling while Mexico’s reliance on foreign fuels is rising in spite of a government goal to shed its dependence on global energy markets.
The company’s crude oil exports hit 922,000 barrels a day in June, a 4.5% month-over-month decline, marking the fifth month so far this year that Pemex exported less than one million barrels a day, according to documents seen by Bloomberg. Pemex imported about 888,000 barrels of refined products in June, a record this year. Gasoline imports rose 17% over the period, and diesel increased 34%, as Pemex seeks to secure supplies amid global fuel shortages, the documents showed.