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PEMEX CEO reports significant progress in oil industry recovery

16/03/2023 | 13
  • The production of liquid hydrocarbons reached 1,702 Tbd in 2018. As of March of this year, production reached 1,915 Tbd and forecasts predict production of 2,001 Tbd by the end of 2023.
  • Gasoline, diesel, and jet fuel production registered 720,000 barrels per day this month.
Petróleos Mexicanos (PEMEX) CEO Octavio Romero Oropeza gave a presentation during the morning press conference held by Mexican President Andrés Manuel López Obrador, regarding the progress made towards rescuing the oil industry, as part of the strategy to achieve energy self-sufficiency.

Romero Oropeza displayed a historical overview of liquid hydrocarbon production, and reminded the audience that, as of November 2018, production amounted to 1,702 thousands of barrels per day (Tbd), as opposed to the production of 1,915 Tbd recorded in March this year, which is forecasted to reach 2,001 thousands of barrels per day by the end of 2023.

Regarding hydrocarbon gas production, he pointed out that in 2018, 3,811 million cubic feet per day (MMcfd) were produced, in comparison with production figures of 4,224 MMcfd achieved in March of this year. This production is expected to reach 4,811 MMcfd by 2024.

Concerning crude oil refining, the Petróleos Mexicanos CEO noted that as of November 2018, in other words, at the end of the last administration, only 519 Tbd were processed, while as of March this year, production averages 1,179 Tbd, thanks to the 921 Tbd contributed by the National Refining System (NRS) plus 258 Tbd supplied by the PEMEX Deer Park Refinery.

As for gasoline, diesel and jet fuel production, the CEO recalled that during November 2018, production only reached 300 Tbd, in contrast to the 720 Tbd produced this month, a figure achieved with the contribution of 491 Tbd from the NRS and 229 Tbd from Deer Park.

Lastly, on the compliance with the goal to achieve the country's energy independence, Octavio Romero pointed out that significant progress has been made, because, while in 2018 there was a national deficit of 901 Tbd, this figure has been lowered and the goal is for this deficit to drop to only 34 Tbd by 2024.​​​​​​​​​
Mentions of Pemex may refer to Petróleos Mexicanos or any of its Subsidiary Productive Companies.
Last Modified 31/03/2023 14:12 Pemex #Production