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Pemex increases gasoline imports in February
Thursday, March 28, 2024 - 18:00
crédito Reuters

In value, foreign purchases of all petroleum products totaled 2,048 million dollars in February, an amount that represented an increase of 4% compared to the previous month, driven by better prices in addition to volume.

The volume of gasoline imports from Petróleos Mexicanos (Pemex) amounted to 376,277 barrels per day in February, which meant a monthly increase of 2.6%, although compared to the second month of 2023, a reduction of 9.3% was reported.

According to the company's Statistics published in its Institutional Database, although these purchases are 5.3% above those that were made a decade ago, if they are compared to those that were carried out in February 2018, the reduction is of 42 percent.

With this, the total volume of oil products that the state-owned company acquired through imports in February was 688,698 barrels per day, and had a monthly increase of 5.2%.

In contrast to the report from the same month a decade ago, the volume of these purchases is 5% higher. However, it decreased by 9.3% in one year, and by 34% compared to February 2018.

Diesel imports in February averaged 118,625 barrels per day, increasing 10% in one month.

But in one year they were reduced by 31% and are 51% lower than those carried out in February 2018. Even if they are contrasted with those carried out in the same month of 2018, they are lower by 12.5%.

In value, foreign purchases of all petroleum products totaled 2,048 million dollars in February, an amount that represented an increase of 4% compared to the previous month, driven by better prices in addition to volume.

In one year, according to Pemex, this amount is 16.3% lower, and has dropped 20% compared to what was reported in February 2018, while it was 16% lower compared to the February 2014 report.

Of this value, the expenditure for the purchase of gasoline abroad was US$ 1,150 million in February, with a reduction of 4.6% compared to January.

In one year, this amount is 12% lower, in addition to being 7% lower than what was reported in the same month of 2014, and is 23% lower than the second month of 2018.

According to the general director of Pemex, Octavio Romero Oropeza, the oil company has advanced in its participation in the different oil markets in the country since the opening to private capital that was legally authorized last six years, since it has 81% of the market of gasoline that it had in 2020, rose to 86% in 2023, in addition to the fact that it already has 76% of the diesel market and 62% of LP gas, which has increased around 10 percentage points in the sale of these fuels in the same period.

Last year, 214 new gas service stations were opened with the Pemex brand, and there are already more than 50 establishments so far this year, for a total of 7,252 gas stations with the Pemex brand in the country.

“71% of Pemex's total income today comes from the domestic market and we hope to close 2024 with 75% of the total that we obtain through these sales in the country,” said Romero Oropeza during the Commemoration of the 86th Anniversary of the Oil Expropriation last March 18th.

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El Economista