Source: El Economista – Mexico City – January 4, 2021
Pemex refineries record worst performance in decades
Refining output and operational capacity continues to deteriorate falling short of its company business-plan amid un-scheduled shutdowns, operational challenges and maintenance related short-falls.
- Covid-19 adjusted production for Pemex’s six refineries represents the worst performance in three decades and a fraction of what the company’s name plate processing capacity is.
- The company’s six refineries, on average, are operating at 36.5% of their capacity and their output has dropped to the lowest level in three decades, and more than half of the 74% utilization levels it had 10 years ago.
- This is combined with a sustained drop in crude output which settled at 1.7 million barrels per day.
- The company failed to meet its production targets for the close of 2020 by 10.2%.
- The low utilization rates and poor performance are linked to un-scheduled shutdowns due to equipment failures and lack of maintenance.
Read Article: