Mexico gasoline output hits monthly low as Dos Bocas refinery underwhelms

Mexico's federal oil company Pemex produced 236,000b/d gasoline in November, its lowest monthly output of the year.

Gasoline output was 8% lower than in October but up 6% on November 2023, according to statistics released by Pemex on December 24. 

The drop comes despite massive investments to increase refining capacity and end Mexico's reliance on fuel imports.

The newly opened Olmeca refinery in Tabasco state’s Dos Bocas port produced 1,600b/d of gasoline. The refinery began operating in July after repeated delays. It is estimated to have cost US$20bn, compared to an initial estimate of US$8bn.

The complex, which has nameplate processing capacity of 340,000b/d of crude oil, processed just under 60,000b/d in November and produced mainly coke and diesel.

Former president Andrés Manuel López Obrador, who left office on October 1, launched the Dos Bocas refinery largely to make Mexico self sufficient, but as the refinery keeps operating well below capacity, that goal is still out of reach.

In November, Pemex imported 358,000b/d of gasoline and 121,000b/d of diesel.