Pemex Eyes Light Crude Imports to Boost Refining Efficiency

Petroleos Mexicanos (Pemex), Mexico's state-owned oil company, may be considering a strategy to improve its refining efficiency by importing light crude oil. According to Julio César Rentería Sandoval, CEO of Consultores Asociaciones en Tecnologías Catalíticas (CATEC), this approach has proven successful in Brazil.

Brazil typically produces 4.2 million barrels per day and exports about 2 million barrels, but it imports large quantities of light crude to optimize the feedstock for its refineries. This strategy allows Brazilian refineries to operate at capacity rates exceeding 90% and achieve petroleum product yields of approximately 76%.

Rentería pointed out that Mexico's problem is not a decline in oil production, but rather the deterioration of the quality of the available crude oil. Domestic production has shifted towards extra-heavy crude from fields such as Maloob, Zaap, and Ayatsil, which has an API gravity of around 10 degrees and sulfur content of up to 5 percent.

This makes processing difficult for Pemex's refineries, reducing their efficiency and resulting in a lower yield of gasoline, diesel, and jet fuel. Rentería emphasized that importing light crude could help alleviate these operational problems.