Pemex to reopen three refineries

MEXICO CITY, March 15, 2018 – Mexican NOC Pemex will bring three of its refineries back on line, providing a significant boost to current refining throughput, international media reported Wednesday.

The company’s Madero, Minatitlán and Tula refineries are expected to be fully operational by April, with a total additional refining capacity of 790,000 bpd, a company spokesperson told Platts.

The former two refineries had undergone major maintenance projects to bolster operational profitability, while Tula’s catalytic unit has been undergoing maintenance since last December.

Pemex told Platts that its objective is to reach a refining target of 1 million bpd in H2 2018, while maintaining profitability.

“The more crude oil we process, the more money we lose as we produce more fuel oil, which is worth less than crude oil,” the Pemex spokesperson said. “All our focus lies in having profitable operations.”

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