In January, June and July of this year, fuel oil production was higher than gasoline, despite being one of the lowest-valued and lowest-selling products on the market.
According to Pemex’s latest production statistics, published on August 25, during July it produced 333,200 barrels of fuel oil per day, 49.1 percent more than the 223,400 reported in the same month last year. Meanwhile, gasoline production, one of the most valuable fuels, reached 287,900 barrels per day in the seventh month of the year, just 8.1 percent more than the 266,100 barrels per day in the same period of 2023.
Thus, the difference between gasoline and fuel oil production in July was 45,300 barrels per day.
Oscar Ocampo, coordinator of the energy practice at the Mexican Institute for Competitiveness (IMCO), said that the problem lies in the refineries, which do not receive the light crude oil diet for which they were configured, but rather mostly operate with heavy crude oil, which is what is produced in the country, or a mixture of both. “Pemex’s six refineries, not counting Dos Bocas, are configured to process light oil and, currently, Pemex mostly produces heavier oil, which is not an adequate diet for the National Refining System. “So more or less a third of what is produced is going to be fuel oil, and as the refineries are today, with the diet that is injected into them, the greater the production of the refineries, the more fuel oil, the more gasoline and the other third of other products such as diesel, jet fuel, etc. are going to be produced,” he explained in an interview last week. As for diesel, its production reached 205,300 barrels per day in July, 33.6 percent more than 153,600 barrels per day in the same month of 2023. Regarding the volume of gasoline sales, an increase has also been observed, since 688,700 barrels per day were sold in July, which represents an increase of 4.6 percent. Meanwhile, the value of domestic sales of automotive gasoline reached 43,968 million pesos, an annual increase of 6.9 percent.
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