23 August 2010

MEXICO: Pemex July Production Up 1%; May Import Oil For 1st Time In 30 Years.

REUTERS EXCLUSIVE/ ROBERT CAMPBELL/
     Pemex may import oil for its refineries for the first time in over 30 years. There has been a proposal to import 40,000 bbls daily. Pemex wants to increase domestic refining to meet  demand for gasoline and diesel and reduce its reliance on fuel imports, which exceed 500,000 barrels a day. There are two refineries with port facilities capable of handling crude oil imports, one near the Gulf Coast at Ciudad Madero and another at Salina Cruz on the Pacific.
     Meanwhile, July production rose a mere 1% mainly because output from the Ku Maloob Zaap heavy oil complex, the country's biggest field, which rebounded to average 2.573 million bbl daily. Production from the giant Cantarell Field continues to slump.