Pemex has maintained a positive trade balance in the last four months, with exports exceeding imports, driven by its energy self-sufficiency policy.
In the last four months, Mexican Petroleum (Pemex) It has maintained a favorable balance in its trade balance, with an average of 871 million dollars. According to the data provided, imports of hydrocarbons and their derivatives reached 8,408 million dollars during the first four months of the year, while crude oil exports amounted to 9,279 million dollars, reflecting a robust performance in the foreign sales.
These data indicate that Pemex has reduced its imports of petrochemicals, aligning with the government policy of reducing dependence on imported fuels and achieving energy self-sufficiency. This guideline seeks for internal production to satisfy local demand, with the expectation of maintaining a positive trade balance.
The general director of Pemex, Octavio Romero Oropeza, has assured that by the end of this six-year term, gasoline imports will stop, since all the oil produced will be refined locally. This trend is observed in the decrease in fuel imports in recent years, which is expected to continue with the increase in production of the National Refining System (SNR) and the start-up of the Olmeca Refinery in Dos Bocas.
With the incorporation of the two coking plants under construction, Pemex plans to reduce gasoline imports in the country to 5.8%. However, the company faces several challenges, including the efficient operation of its refining system, which has reported consecutive losses since 2001, and the management of its total debt, which exceeds 100 billion dollars, affecting its payments to suppliers. and putting its operational activities at risk.
In the first quarter of 2024, Pemex reported profits, although these were supported by tax exemptions and federal contributions. The sustainability of these results will depend on the successful implementation of its energy self-sufficiency strategy and the effective management of its debt.
