By KELIN DILLON
In the last decade, Mexico reportedly had to import over $20 billion per year worth of gasoline to cover the country’s growing demand, following Mexico’s state-owned fuel company Petróleos Mexicanos (Pemex) inability to meet the market’s needs.
Pemex reportedly suffered huge losses in revenue and production in 2020 after the start of the covid-19 pandemic. The company will need an estimated $14.7 billion from the Mexican government in 2020 to meet its financing needs, furthering its financial issues.
Figures from El Universal detail that every seven out of 10 liters of gasoline sold in Mexico are imported from abroad.
Mexico’s new refinery in Dos Bocas, Tabasco, will reportedly not have a large enough capacity to mend the supply deficit. The new complex is estimated to produce 558,000 barrels of gasoline per day, while the market demands 904,000 barrels per day. Dos Bocas fares better in terms of diesel output, as it can produce 401,000 barrels per day in relation to the market demand of 422,000 barrels of diesel per day.
…March 3, 2021