Pemex Records Highest Crude Processing Rate in More than a Decade

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Written by Amir Richani for IIR News Intelligence (Sugar Land Texas)

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Summary

Pemex reached its highest crude processing rates in years in December, yielding higher fuel products. Meanwhile, oil exports averaged the lowest on the company's record.

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High Monthly Processing Rate

In December, Mexico's state oil company Pemex processed 1.22 million barrels per day (BBL/d) of oil across its seven refineries, the highest monthly rate since April 2014. Increased throughput was driven by sending more crude to the new Dos Bocas Olmeca refinery, which processed 263,000 BBL/d out of its 340,000 BBL/d capacity.

Dos Bocas led, followed by Tula at 220,000 BBL/d and Salina Cruz at 210,000 BBL/d processed in December.

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The December processing rate was around 60% of Pemex's 1.98 million-BBL/d refining capacity.

The company's goal is to reach a processing rate of 1.56 million BBL/d across its seven Mexican refineries.

More Fuel is the Goal

Higher rates drove monthly fuel output to 1.27 million BBL/d, with gasoline amounting for 443,600 BBL/d and diesel 313,400 BBL/d.

Fuel oil, which tends to account for a significant share of Mexican refining output, reached 171,200 BBL/d in December, or 13.46%, compared with 22% of total output in October 2025.

Distillates made up 70% of output; the company set its goal to 80%.

"This result confirms greater efficiency in crude oil processing and tangible progress towards energy sovereignty promoted by the Government of Mexico," said the company in a statement.

Refining margins were US$12 per barrel in 2025, with gasoline, diesel and jet fuel sales up 81,000 BBL/d in the second half of the year.

For years, the Mexican company has struggled to increase its refining rates, though the construction of the Dos Bocas refinery is helping, despite several operational setbacks that have impacted the asset in recent times.

The former government of Andres Manuel Lopez Obrador aimed to reduce fuel imports from the United States by constructing the new refinery, though his term ended without Dos Bocas operating at full capacity.

Despite the increased processing rates, Mexico remains the largest market for U.S. petroleum products. In 2024, Mexico received 1.2 million BBL/d of products from the U.S.

Exports Plunge

As Pemex increases domestic refining processing rates, there is a direct impact on exports. The larger share of crude being processed domestically leaves less available for export, contributing to a decline in exported volumes. With limited capacity to increase production beyond 1.8 million BBL/d, the government's target over the next few years, the company is expected to see if exports dwindle further.

In December, Pemex exported 368,000 BBL/d of crude oil, its lowest volume since 1990.

Key Takeaways

• Pemex's refining hit 1.22 million BBL/d in December, the highest in recent times.
• Gasoline and diesel output totaled 443,600 BBL/d and 313,400 BBL/d, respectively, during that month.
• December oil exports totaled 368,000 BBL/d, the company's lowest recorded.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).