Mexico's Pemex to cut fuel imports to 20,000 bpd by early next year
Updates with detail, CEO comments paragraphs 3-4, context paragraphs 5-6
MEXICO CITY, July 19 -Mexican state-owned oil company Pemex will reduce its fuel imports in September to some 52,000 barrels per day (bpd) and to 20,000 bpd in the first quarter of 2025 as it ramps up production of its own refined products, the firm's Chief Executive Octavio Romero said on Friday.
Romero said Pemex imports for the first half of 2024 amounted to some 498,000 bpd, but that the figures would go down with the starting-up of the new Olmeca refinery in the days to come, as well as a coking plantin Tula in the last quarter of the year.
"In the first quarter of 2025, with the full entry of the Tula coking plant, we will have achieved 98% of self-sufficiency in fuels," the executive said during a regular morning press conference alongside President Andres Manuel Lopez Obrador.
Romero added that once a new coking plant is in place in Salina Cruz, a seaport on the Pacific coast of Oaxaca state, the company will be "above the national demand" for fuels and will have a surplus.
Lopez Obrador, a resource nationalist, promised the country's "energy sovereignty" by the end of his six-year term.
However, Pemex and his government have several times failed to meet their goals, most recently with the new Olmeca refinery experiencing delays , despite pressure to ready it before the end of Lopez Obrador's term.
Reporting by Ana Isabel Martinez; Writing by Stéphanie Hamel; Editing by Anthony Esposito and Kylie Madry
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