Daily Management Review

Mexico's Pemex to cut oil exports


Mexican oil company Pemex intends to significantly reduce oil exports next year to 435,000 barrels per day, ending it already in 2023, the company's head Octavio Romero said.

Matthew Rutledge via flickr
Matthew Rutledge via flickr
"Next year we will refine 1.5 million barrels (per day) at our refineries, especially involving the Deer Park refinery (in Texas, where the company acquired 100% of shares), and we will export no more than 435,000 barrels (per day)," he said.

The company estimates that this year it will export just over 1 million barrels per day and refine 714,000 barrels per day.

Already in 2021 the company plans to refine the entire volume of oil - 1 million 971 thousand barrels per day, and in 2021 - 2 million barrels per day.

Mexican President Andrés Manuel López Obrador has repeatedly promised that the country will give up oil exports, which should happen by the end of his term, which expires in 2024.

source: reuters.com