Pemex Reports a Robust 21% Surge in Sales within Domestic Market in 2023

In 2023, sales within the domestic market accounted for 70.8% of Petróleos Mexicanos' revenue, encompassing petrochemicals, fuels, and various other products, the company reported. This significant portion reflects a notable 21.2% growth over the past five years for the oil company.

According to the company's 2018 data, internal sales accounted for 58.37% of revenue, representing just under 20% of the anticipated revenues for 2023, based on the company's expectations.

Pemex's CEO, Octavio Romero, said the company advanced on its plan to reduce its reliance on foreign fuel purchases and fortify the domestic market's supply.

Romero noted that the increased supply of products has resulted in a higher share of domestic sales in PEMEX's total income, concurrently contributing to the strengthening of the domestic market.

This year, Pemex foresees a strong revenue stream driven by domestic sales. This growth is expected to be fueled by the Olmeca refinery and coking plants in Tula and Salina Cruz. By the end of 2024, it is projected that domestic sales will account for 83.3% of the company's total income.

As per Pemex, the Olmeca refinery will start continuous operations in March, with the Tula coker anticipated to commence operations this year and achieve full operation by 2025. Additionally, the Salina Cruz coker is slated to initiate operations in July of 2026 year.