Mexico City. President Andrés Manuel López Obrador confirmed this Thursday that Pemex will soon reduce crude oil exports, as fuel production in the country will increase.
In his morning press conference at the National Palace, the president rejected the idea that oil production will decrease, which is 1 million 850 thousand barrels of crude oil per day and highlighted that of that volume, on average, only 40 thousand are produced by individuals, For what he described as a “hoax” the energy reform carried out during the six-year term of Enrique Peña Nieto, who promised to increase private investments in the sector.
The Tabasco native assured that in May or June, when the Olmeca refinery in Dos Bocas is producing fuel at its maximum capacity, it will be able to process 340 thousand barrels per day, which will no longer be exported, as is done to date.
Asked if Pemex will cut oil production, he answered: “No, it is not real, Petróleos Mexicanos has its plan, it has a production of approximately one million 850 thousand barrels (daily), half of that production is being dedicated to refineries. The other half is being exported, they have an export projection of around 900 thousand barrels per day.”
“No, no, it will be adjusted or cut to the extent that we have all the capacity to refine the raw material, crude oil in the country,” he insisted.
“When it comes into full operation, because there are already plants that are operating, in April diesel will begin to be produced in Dos Bocas, but in May or June it will already be at full capacity, since Dos Bocas has a production capacity of 340 thousand barrels, it can process 340 thousand barrels, those would no longer be exported, but they are for the domestic market,” he clarified.
He highlighted that his government’s plan is for domestic production of gasoline, diesel and jet fuel to reach one million 46 thousand barrels per day in 2024, one million 332 thousand in 2025 and one million 396 thousand barrels in 2026.
“To produce this fuel we need around 1 million 850 thousand barrels of crude oil, so when we are here crude oil will not be sold, because we are going to process everything in the country,” he assured.
“When we arrived, only crude oil was sold, or most of it was for export and very little was for refining. The change that was applied to the oil policy is to stop exporting crude oil, a raw material, which is what I have always questioned, how to sell oranges to buy orange juice, why not here in Mexico we refine our oil, we give it added value and we generate jobs, that is the new policy,” he explained.
He pointed out that the daily production of fuel in the country was 453 thousand barrels in December 2018, which increased to 923 thousand barrels per day in 2023 and one million 160 thousand in March 2024.
He highlighted that about 75 percent of Pemex’s income currently comes from the domestic market and not from crude oil exports.
He said that if his government had not implemented its policy of increasing fuel production, “right now we would be importing all the gasoline we need.”
Noting that the private sector only produces 40 thousand barrels per day, he said that of the 110 contracts and concessions awarded by the federal government to oil companies for production, only three “are producing and 107 there is no investment.”
“How did they deceive that foreign investment was going to arrive in abundance, that with this energy reform we were going to be producing 3 million barrels a day, nothing. What did they do? They obtained the concessions and dedicated themselves to speculating in the stock markets. And they must recognize that we have respected them, that the contracts have not been canceled, because fortunately we do not need those reserves that were given to individuals,” he emphasized.
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– 2024-04-04 20:40:17
