The problematic situation that Pemex, the Mexican oil company, finds itself in is due to the presence of excessive amounts of water in its crude oil, which affects the selling price. This situation has led to the Maya crude, exported to the U.S. Gulf Coast, being sold at a discount of up to $8 per barrel. According to Ramsés Pech, a specialized consultant, the presence of water generates less income for the country and may affect the commercial relationship with U.S. refineries.
In this regard, U.S. refineries could express their discontent with the import of Mexican crude due to the presence of water, forcing them to invest more time and costs in processing. This could lead them to opt for oil from other countries instead of Mexico, which would negatively impact Pemex's revenues.
President Claudia Sheinbaum and Pemex CEO Víctor Rodríguez have acknowledged the problem and assured that it will be resolved in the next 10 days. Although Rodríguez denies that any ships of Mexican crude have been rejected, he admits that some buyers have complained about the quality of the oil due to the presence of water and salt.
Regarding Pemex's production, at the end of December 2024, the company recorded minimal crude oil production levels, with 1 million 354 thousand barrels per day. The goal of the Mexican Government is to maintain an average production of 1 million 800 thousand barrels per day, including condensates.
This problem is attributed to the pressure to increase oil production, which is causing water to seep into the oil fields. Specialists indicate that this seepage could be due to overproduction by Pemex, affecting the quality of the crude oil offered in the international market.
Pemex faces the challenge of maintaining the quality of its oil in light of complaints from international buyers and competition from other countries such as Canada and Colombia. The company is in debt and seeks to resolve this issue of excess water in its crude to avoid losing its position in the global oil market.
