- The annual production goal of 1.944 mmbpce will be met
Following the natural disasters that have hit the country during the month of September, Pemex facilities did not suffer any structural damage and remain safe. Fuel supply is likewise guaranteed in the country, as the company has enough fuels and diesel coming from various markets.
However, the events that occurred during this month have caused damages that have affected production of both oil and oil products. Hurricane Harvey, which hit the Gulf of Mexico during the beginning of the month, caused the port of Houston to close, as well as the shutdown of various refineries along the coastline of the Gulf of Mexico. Additionally, hurricane Katia caused the interruption of operations in the export terminals in Tamaulipas and Veracruz. Therefore, various shipments of oil for export were cancelled.
Additionally, the M8.2 earthquake that occurred on September 7, caused the refinery in Salina Cruz to activate its safe shutdown protocol, where the plant was estimated to resume its operations at the end of the month. However, the continuous aftershocks in the state of Oaxaca and the M6.1 earthquake on the 23rd, whose epicenter was located 50 km from the refinery, have delayed and hindered the rehabilitation efforts. It is scheduled to resume operations in the third week of October.
The above events have caused a substantial drop in the refining capacity, which fell below the scheduled capacity, and it was necessary to reduce oil production due to the increased crude oil storage, whose inventories are at a maximum level. The company expects to redress this situation in October and gradually restore its production, of both oil and refined oil products.
Pemex will meet its annual goal of producing an average one million 944 thousand barrels, as in August production levels were above the scheduled capacity, which will in turn help to compensate the drop that occurred in September.