financetom
Business
financetom
/
Business
/
Mexico's Pemex will process 1.45 mln bpd of crude oil in 2024, CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Mexico's Pemex will process 1.45 mln bpd of crude oil in 2024, CEO says
May 3, 2024 1:03 PM

MEXICO CITY, May 3 (Reuters) - Mexican state energy

company Pemex will process 1.452 million barrels per day (bpd)

of crude oil this year, CEO Octavio Romero said on Friday, in

updated estimates that include the new Olmeca refinery in Dos

Bocas.

President Andres Manuel Lopez Obrador has sought to achieve

"energy self-sufficiency" by ending fuel imports and producing

all the gasoline Mexico needs during his term of almost six

years at the end of September.

Romero said the refinery in the southeastern state of

Tabasco would add 177,000 bpd to Pemex's total processing while

the Deer Park refinery in Texas adds about 271,000 bpd to the 1

million bpd of the six other refineries.

Last week, Pemex officials said the Olmeca refinery, which

is running behind schedule and over budget, would start

producing diesel this month.

Romero said on Friday that Pemex will carry out tests in the

Olmeca refinery using a distillate with a high sulfur content

from the Madero refinery in the northeastern state of Tamaulipas

in an attempt to produce ultra-low sulfur diesel, or ULSD.

"Today we should start producing the first barrels (of

diesel)," Romero said, speaking alongside Lopez Obrador at a

press conference. Romero added that regular gasoline would

follow in the coming weeks.

Romero said that at the end of September, the state company

would be importing only 85,000 bpd of refined products - down

from 927,000 bpd at the end of 2018.

Romero also said Pemex, the world's most financially

burdened energy company, would keep paying down debt. This

month, will make payments to suppliers for 70,000 million pesos

($4.13 billion).

"We are looking to make important payments to suppliers so

that in the month of August... we have regularized all that is

due with our suppliers," he added.

($1 = 16.9535 Mexican pesos)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Protagonist Therapeutics Insider Sold Shares Worth $280,000, According to a Recent SEC Filing
Protagonist Therapeutics Insider Sold Shares Worth $280,000, According to a Recent SEC Filing
Jun 11, 2024
04:37 PM EDT, 06/11/2024 (MT Newswires) -- William D. Waddill, Director, on June 07, 2024, sold 8,000 shares in Protagonist Therapeutics ( PTGX ) for $280,000. Following the Form 4 filing with the SEC, Waddill has control over a total of 12,000 shares of the company, with 12,000 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1377121/000110465924070420/xslF345X03/tm2416932-2_4seq1.xml Price: 35.97, Change: +2.02, Percent Change:...
Westhaven Raising $1.6 Million in a Private Placement of Flow-Through Shares
Westhaven Raising $1.6 Million in a Private Placement of Flow-Through Shares
Jun 11, 2024
04:35 PM EDT, 06/11/2024 (MT Newswires) -- Westhaven Gold ( WTHVF ) said Tuesday it is raising $1.6 million in a private placement of flow-through shares The company said it is placing up to seven million of the tax-advantaged shares priced at $0.23 in the financing. The funds will be used to cover exploration costs at the company's properties in...
National Bank to buy Canadian Western Bank in C$5 bln deal
National Bank to buy Canadian Western Bank in C$5 bln deal
Jun 11, 2024
June 11 (Reuters) - National Bank of Canada ( NTIOF ) has agreed to buy Canadian Western Bank ( CWESF ) in a deal valued at C$5 billion, the companies said on Tuesday. ...
Market Chatter: Paramount Global's Parent Company Ends Skydance Merger Talks
Market Chatter: Paramount Global's Parent Company Ends Skydance Merger Talks
Jun 11, 2024
04:34 PM EDT, 06/11/2024 (MT Newswires) -- Paramount Global's ( PARAA ) controlling company National Amusements, led by Shari Redstone, ended buyout and merger discussions with Skydance Media, The Wall Street Journal reported Tuesday, citing people familiar with the matter. Redstone will likely focus on the sale of National Amusements without merging Paramount with another firm, the report said, citing...
Copyright 2023-2026 - www.financetom.com All Rights Reserved