Pemex Sees Solid Results as Mexico Ups Domestic Oil

August 4, 2022--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petroleos Mexicanos (Pemex) (Mexico City, Mexico) notched up significant gains in revenues and profits for the second quarter of 2022, as the company readies to open a new refinery. Since the beginning of his tenure, Mexican President Andres Manuel Lopez Obrador has been adamant about strengthening state companies and achieving energy independence through domestic production, which influenced Pemex's decision to add a refinery.

The latest financial and operational figures offer Pemex a positive scenario, following the impact of the global pandemic on the energy industry. Pemex expects to expand its domestic refining capacity by 340,000 barrels per day (BBL/d) with the opening of the new Dos Bocas Refinery in the state of Tabasco, fueled by support from Lopez Obrador.