Monday, April 23, 2018

Pemex to Increase Processing Levels And Storage Capacity

Graphic for News Item: Mexico's Pemex Says $5-billion Bond Deal Covers Needs Through 2018
Mexico’s Pemex is to increase its crude processing levels in April as it recommences operations at three refineries, with a total combined capacity of 790,000 bpd.

The state-owned company has also announced plans to increase it oil storage capacity following the signing of a contract with Olstor Services.

The contract, which is the first of its kind to be formalised with a private enterprise, will see Pemex Transformación Industrial gain greater flexibility and reliability for the supply of fuel and other oil products to cover the demand of its clients in the Bajío region.

This is one more way in which the tools provided by the new legal environment and regulatory framework of the Energy Reform are being actively used, allowing the company to develop a new oil product storage infrastructure with third-party involvement to further improve and strengthen the country’s energy supply.

Additionally, the company is restarting operations at three refineries. It is currently restarting its 275,000 bpd Minatitlan and 190,000 bpd Madero refineries after the company completed major maintenance works at both facilities that began in second-half 2017.

Pemex is also restarting a catalytic unit at its 315,000 bpd Tula refinery, where it had carried out maintenance works since December 2017, the company said.

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