Mexican crude throughput fall continued in 2019

Crude throughput in Mexico's six refineries averaged 592,000 b/d during 2019, the lowest level since the energy ministry (Sener) started detailed records by refinery in 1990 and almost half of what the government promised.

The 3.2pc decrease from the 2018 level comes despite energy minister Rocio Nahle's goal of 900,000-1mn b/d for 2019.

The results were shy of state-owned Pemex's more conservative goal of 600,000 b/d of throughputs.

Capacity usage stood at 36pc of the 1.615mn b/d nameplate capacity of the six refineries combined, or at 38pc of the 1.54mn b/d of operational capacity. The energy ministry recently posted throughput data for the fourth quarter after these statistics had been offline since a cyberattack on Pemex in November.

Mexican president Andres Manuel Lopez Obrador said capacity usage would be over 50pc this year and promised that 75pc would be used by the end of this year.

In December Pemex processed 571,000 b/d, 3.2pc less crude than in November, but 11pc more than in December 2018.

By refinery, the 315,000 b/d Tula refinery processed the highest level of crude at 118,000 b/d in December. This is more than the 108,000 b/d processed in the same month by the larger 330,000 b/d Salina Cruz refinery (see table for details).

One refinery that did improve performance is the country's oldest, the 190,000 b/d Madero, which processed 99,000 b/d of crude in December, a record high since April 2016 when it processed 110,000 b/d.

Mexico's government is banking on refinery improvements and a planned new 340,000 b/d refinery in Dos Bocas, Tabasco, to reduce its dependence on imported refined products, mostly from the US.

Yet the work also comes as the government has trimmed the budget for refinery maintenance compared with past administrations, which the president has accused of conducting incomplete and shoddy repairs. State-owned Pemex's six refineries will receive Ps13.3bn ($706mn) in 2020 for maintenance and equipment, a 33pc decline from the final budget for 2019 of Ps20bn.

By Sergio Meana