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Deer Park Refinery generated profits of 746 million dollars, assured director of Pemex, Octavio Romero Oropeza

The investment for the purchase of the deer park refinery recovered in less than 6 months and the complex located in Texas, USA reported profits of 746 million dollars in the first half of the year.

Between January 1 and June 30, Deer Park generated profits that not only made it possible to recover the investment involved in its purchase, “but also left an additional 150 million dollars,” reported Octavio Romero Oropeza, general director of Mexican oil (PEMEX).

During the presentation of the quarterly results of the Mexican oil company, the official commented “I am pleased to share with you that the operation continues with the highest standards and in this first semester has generated a net profit of 746 million dollars, and a EBITDA of 862 million dollars. (…) With the net result obtained to date, the investment made for the acquisition of Deer Park more than recovered in less than six months”, detailed the manager.

read also Deer Park processes 25% of the oil delivered to the SNR

PEMEX registered a net return of 131 thousand 377.9 million pesos

The director of Pemex indicated that this refinery has a processing level of 281,000 barrels per day of crude oil and a production of 293,000 barrels per day of oil products, of which about 250,000 barrels correspond to gasoline, diesel and jet fuel.

In addition, he announced that in the second quarter of the year, PEMEX registered a net return of 131 thousand 377.9 million pesos, an amount 812% higher than the 14.4 million registered in the same period of 2021.

With the result for April-June 2022, the company added two consecutive quarters of progress, and posted its best performance on record.

According to the financial report presented by the state production company, the profits recorded are due to an improvement in the price of crude oil and higher revenues from domestic sales, which is its greatest strength.

read also Deer Park has had utilities of more than 50% of its cost and this year it will be paid: AMLO

“It is true that high prices were recorded in the first half, it is worth noting that during other exercises with similar price levels and higher production, results were much lower, and even losses,” Oropeza explained in a conference with the media and investors.

As part of the above and what has benefited PEMEX’s financial performance, is that domestic sales and exports registered an annual growth of 89.2% and 88.5 percent, respectively.

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