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Lopez Obrador refining plan overlooks Pemex's main challenges
www.spglobal.com/platts/en/market-insights/latest-news/oil/1...
The National Refining Strategy released Sunday by the administration of Mexican President Andres Manuel Lopez Obrador overlooks the structural challenges that Pemex's refineries face....Raising crude processing levels with a major restructuring of Mexico's domestic refining sector could lead to multi-billion dollar Pemex losses....

The government set a crude processing target of 1.5 million b/d by mid-2020, a utilization rate of over 90%. To make this happen, Pemex would have to carry out a major round of maintenance across its six refineries. Such a target must be taken in context, Pemex's highest crude processing level on record is 1.3 million b/d in 2013....

It is unacceptable Mexico imports currently 75% of the 1.17 million b/d of gasoline and diesel it consumes, he [Obrador] added....The previous administration of former President Enrique Pena Nieto decreased refining levels while favoring imports with the goal of cutting Pemex's losses.

DB2
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