Overview
- From January to November, crude exports averaged 601,000 barrels per day, down 25.5% year over year and at their lowest level in more than three decades.
- Export revenue declined 35.4% to $12.34 billion on lower volumes and prices, a strain given Pemex’s significant dollar-denominated obligations.
- Domestic crude processing rose 9.9% to 998,000 barrels per day in January–November, yet remained about 5% below Pemex’s 2025 plan, with November throughput reaching roughly 1.14 million barrels per day, the strongest November since 2015.
- In November, the Olmeca (Dos Bocas) refinery processed about 206,000 barrels per day for the first time, while its fuel output dipped 2.85% month over month to 180,000 barrels per day due to weaker diesel production.
- Supplier payables stood at 517,098 million pesos at the third quarter despite nearly 300,000 million pesos in repayments and an expected 250,000 million peso Banobras facility to accelerate payments.