Pemex: what is the trend of your imports and exports?
International trade segment of Pemex provides international trade, distribution, risk management, insurance and transportation services.
This segment operates through:
- P.M.I. Comercio Internacional, S.A. de C.V. (PMI).
- P.M.I. Commercial Designated Activity Company (P.M.I. Trading DAC).
- Also P.M.I. North America, S.A. de C.V., (PMI-NASA, referred to together with PMI and P.M.I. Trading DAC, as the PMI Subsidiaries).
- Mex Gas International, S.L. (which, together with the PMI Subsidiaries, are collectively referred to as the Business Companies).
Some of the trading companies sell, buy and transport crude oil, refined products and petrochemicals on world markets, and provide related risk management, insurance, transportation and storage services.
The Commercial Companies have offices in Mexico City, Houston and Singapore.
Furthermore, export sales are made through PMI to major clients in various foreign markets.
Pemex
In 2020, Pemex’s crude oil exports increased in volume by 1.5%, from 1 million 103,300 barrels per day in 2019 to 1 million 119,900 barrels per day in 2020.
In contrast, natural gas imports decreased 11.7% in 2020, from 965.9 million cubic feet per day in 2019 to 853.1 million cubic feet per day in 2020.
Regarding Pemex’s exports of petrochemical products, these decreased 44.1%, from 71.9 thousand metric tons in 2019 to 40.2 thousand metric tons in 2020.
Likewise, Pemex’s imports of petrochemical products fell 56.0%, from 877,300 metric tons in 2019 to 386,000 tons in 2020.
Finally, Pemex’s exports of other petroleum products and liquefied petroleum gas increased 54.4%, from 82,300 barrels per day in 2019 to 127,100 barrels per day in 2020.
The Mexican Constitution and the Hydrocarbons Law allow other oil and gas companies, in addition to Pemex, to carry out certain activities related to the energy sector in Mexico, including exploration and production activities, and the import and sale of gasoline.
As a result, Pemex faces competition for the right to explore and develop new oil and gas reserves in Mexico.
It also faces competition in relation to certain refining, transportation and processing activities.
