Pemex's crude oil exports dropped 45% in August from a year earlier as the state-owned company redirected more crude to its own refineries. Domestic refining rose 15% over the same period, cutting Mexico's need for imported gasoline and diesel even as total crude production slipped.
Petroleos Mexicanos reported a 45% drop in crude oil exports for August compared with the same month last year, with shipments falling to 275,737 barrels per day. The state-owned energy company released the figures on Wednesday.
The decline in exports came as Pemex pushed more crude through its domestic refineries instead of shipping it abroad. The company processed 1.2 million barrels per day at its six refineries, a 15% increase from August 2025.
Production falls even as refining climbs
Total crude and condensate production fell 2.2% from July to 1.64 million barrels per day in August, a decline that occurred despite higher global energy prices. The Olmeca refinery drove much of the added refining capacity, processing 252,471 barrels per day — nearly three-quarters of the facility's 340,000 barrel-per-day capacity.
Fuel output climbs, imports shrink
Gasoline production rose 5% from July to 439,346 barrels per day. Diesel output increased 9% to 316,279 barrels per day. The added domestic fuel production let Pemex cut gasoline imports by 24% and diesel imports by 26%.
Fuel oil output, however, decreased 30% to 174,416 barrels per day during the period. The shift mirrors President Claudia Sheinbaum's energy sovereignty initiative, which seeks to eliminate import dependence by reducing crude exports and increasing domestic fuel processing.
Source: Commodities & Futures News
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