Pemex plans sharp drop in crude exports next year as it ramps up refining

Pemex Chief Executive Officer Octavio Romero projected that its crude exports would fall to 435,000 barrels per day (bpd) in 2022 from 1.019 million this year as Mexico incorporates operations at its the Deer Park refinery in Texas into its forward planning.(File pic shows the Pemex logo on an oil refinery in Mexico)

MEXICO CITY: Mexico's Petroleos Mexicanos (Pemex) said on Tuesday it would drastically reduce planned crude exports next year as the state oil company works to meet the government's target of refining all of its oil domestically.

Pemex Chief Executive Officer Octavio Romero projected that its crude exports would fall to 435,000 barrels per day (bpd) in 2022 from 1.019 million this year as Mexico incorporates operations at its the Deer Park refinery in Texas into its forward planning.