Aggravates dependence on Pemex – Hidalgo Criteria



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In the first half of 2018, dependence on foreign fuels has deteriorated, as Pemex showed yesterday in its production results.

76% of the 783,000 barrels of gasoline per day sold by the company The state oil company was imported, proportion that was not observed for the same period.

The oil company has offset the historic declines in production at its six refineries arguing that it is putting on profitability. Pemex bought 595 thousand barrels a day of automotive gasoline, 16% more than the same period of 2017.

In contrast, the volume of gasoline from its refineries totaled 212,000 barrels a day, a 30% collapse.

And not only the production of gasoline, also diesel, turbosine, liquefied petroleum gas and fuel oil has declined.

The production of these petroleum products has been reduced In response to domestic demand for fuels, this has also resulted in an increase in liquefied petroleum gas and turbosine imports, with increases of 54 and 54 respectively. 40%.

In the case of propane gas, the fuel most used by Mexican households, imports increased from 36,000 to 56,000 barrels a day during this period

Those of the turbosine rose from 39,000 to 54,000 barrels a day. 000 barrels a day In the first half of this year

And in production, Pemex has aggravated its crisis

In the first half of the year produced a million 881 thousand barrels a day of oil gross. This implies a 7% decrease compared to the first half of 2017, when 2 million 15,000 barrels a day were extracted.

"This decrease is mainly due to the natural decline and the increase in water flow in different deposits.", Pemex said in a report to investors.

The table is completed with sad financial results that also reported yesterday.

For the second quarter of 2018, the company had a net loss of 163 thousand 172 million pesos, against the profit of 32 thousand 780 million pesos for the same period in 2017.

Norma Zúñiga
Agencia Reforma

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