Increased gasoline imports; Amlou’s goal is disappointing

Mexico City.Petroleos Mexicanos (Pemex) imported 11% more gasoline in May than the previous month, a sign that it is struggling to achieve President Andres Manuel Lopez Obrador’s goal of making Mexico self-sufficient in refining.

Pemex gasoline imports rose to 358,500 barrels per day in May, according to data published Monday.

This comes after the company was able to reduce its fuel imports in March and April, and while importers wait for the main Pemex refinery in Dos Bocas, Tabasco, to become operational. Pemex, the world’s most indebted oil company, has repeatedly postponed the start date for the Dos Bocas project and has spent billions on the project to help achieve the president’s goal of becoming self-sufficient in fuel production in Mexico.

It’s part of his broader push for Mexico to become energy independent.

Meanwhile, Mexico refined 267,000 barrels per day of gasoline in May, down 10 percent from the previous month and the lowest level in five months, as the company continues to recover from the impact of a fire at another refinery in April. A separate Pemex refinery was ordered to reduce operations through most of May after air quality deteriorated in the area. The company’s crude oil production has fallen to half its peak 20 years ago, as the company struggles to reduce its debt load of nearly $100 billion. A Pemex spokesman did not respond to a request for comment.

With information from Reuters