Mexico gasoline, diesel imports fell in January

Mexico's gasoline imports fell by 14pc in January, according to final data provided by the energy ministry (Sener), contradicting claims by President Andres Manuel Lopez Obrador at the height of a fuel supply crisis last month.

January gasoline imports fell to 519,000 b/d from December and were down by 12pc compared to January 2018, according to Sener data. Sener officials told Argus the data includes both state-run Pemex's volumes and private companies' imports.

Lopez Obrador came to office last year promising to cut US fuel imports and increase domestic crude and refined products production as part of a plan to increase national energy independence.

But on 14 January, as a fuel shortage caused by a government anti-theft policy deepened, he called reports that imports were dropping "completely false". A day later the government used data from the first ten days of the month to prove imports were up by 36pc from December.

US refiner Phillips 66 said in an earnings call last week the decrease in imports in January reflects disruptions in the Mexican fuel logistics chain that followed the governments efforts to fight fuel theft by cutting flows to a number of pipelines.

Total diesel imports also fell in January, by 13pc to 244,000 b/d from December, but were up by 8pc compared to January 2018, according to the data.

January jet fuel imports were up by 5pc from December to 59,000 b/d and were up by 20pc from a year ago.

Mexico consumed 806,000 b/d of gasoline in the week ended 25 January, with 522,000 b/d or 64pc of the demand met by imports, mainly from the US. Mexico's diesel demand in that same week was 403,000 b/d with 261,000 b/d, also 64pc, coming from imports.

Mexican government databases that combine both Pemex and private company data are rare, given Pemex had a monopoly on the country's energy markets until 2014. The new database used by Argus emulates US Energy Information Administration's (EIA) collection methods and is now updated weekly.