Cadereyta Refinery: A Heated Debate in Nuevo Leon

Civil organization Vibra Cívica announced it will hold a press conference on Aug. 13 regarding a signature collection campaign for a popular consultation scheduled for 2025 regarding the future of the PEMEX refinery in Cadereyta. Ready? Here is the weekly roundup!

Fuel Production vs. Pollution Allegations: Cadereyta's Future

Vibra Cívica emphasizes that the refinery is a significant issue for the citizens of Nuevo Leon due to its impacts on health and the environment. The organization points out that the refinery emits large amounts of sulfur dioxide and fine particulate matter PM2.5 and PM10, which deteriorates air quality in Monterrey and its metropolitan area, contributing to serious health problems such as cancer and respiratory and cardiovascular diseases.

Dos Bocas Refinery Begins Production Amid Global Refining Shifts As the global energy transition continues, oil projects in Latin America, such as Mexico's Dos Bocas refinery, take center stage. These projects aim to enhance energy self-sufficiency and protect economies from international disruptions and rising energy prices. However, refining trends are starting to go back to pre-pandemic levels, yielding less profit.

Salina Cruz Coking Plant Delayed PEMEX has confirmed that the coking plant at the Salina Cruz refinery in Oaxaca will not be completed during president Andrés Manuel López Obrador’s term. According to its director, Octavio Romero, the project will reach 68% completion.

ExxonMobil, COMEXUS Complete Big Data, AI Program for Students ExxonMobil México, in partnership with Mobil lubricant distributors and the US-Mexico Commission for Educational and Cultural Exchange (COMEXUS), has successfully completed the 2024 Skills Development Program. This initiative provided scholarships for 21 Mexican students to participate in a three-week summer program at the University of Texas at Dallas, focusing on Big Data and Artificial Intelligence.

New Government Might Relaunch PEMEX Farmouts Mexico's incoming administration might shift PEMEX toward greater collaboration with private oil companies through equity partnerships. This move marks a significant departure from the policies of current President Andrés Manuel López Obrador, who largely curtailed such collaborations during his tenure.

Chevron Launches Anchor Production With Innovative Deepwater Tech Chevron started production at its deepwater Anchor project in the US Gulf of Mexico. The project marks a significant advancement in the industry with the deployment of deepwater technology capable of safely operating at pressures up to 20,000psi: a first for the industry. The Anchor reservoir lies 34,000ft below sea level.

CNH Approves PEMEX Ocuapan-401EXP Drilling Project CNH has approved a request from PEMEX Exploration and Production to drill the onshore exploratory well Ocuapan-401EXP. This project is in the state of Tabasco, 26.8km southwest of Cardenas, and is part of the Incremental Scenario of the Exploration Plan for the AE-0143-3M-Comalcalco Assignment, which was approved by CNH on Feb. 9, 2023.

OPEC Cuts Global Oil Demand Growth Forecast Amid Uncertainty OPEC has revised down its forecasts for global oil demand growth for 2023 and 2024, citing disappointing data for the year and expectations of weakened demand growth in China. This adjustment marks the first downward revision since the organization initially set its forecast for 2024 a year ago.

PEMEX Crude Exports to Cuba Increase 30% In 2024, PEMEX increased its crude oil exports to Cuba, despite the potential risks of facing sanctions for violating US laws related to the embargo on the island. During the January to March period, PEMEX's subsidiary, Gasolinas Bienestar, shipped an average of 21.8Mb/d to Cuba, representing a 30% increase compared to the 16.8Mb/d exported between July and December 2023.