Mexico’s Pemex has nowhere to store its refined fuel

The shortage of storage space for fuel is not confined just to the USA. State-owned Mexican oil company Pemex has too much gasoline and nowhere to store it.

The lack of storage capacity in Mexico is forcing state-owned oil company to leave its fuel purchases in ships off the coast of Mexico, reported Bloomberg, citing three unnamed people familiar with the situation.

As many as 3m barrels of refined products were thought to be sitting in tankers off of Mexico’s

Sales have fallen between 40% and 50% at some of Mexico’s biggest privately-owned petrol stations in the past two weeks, according to anecdotal reports.

Pemex’s imports about 65% of Mexico’s gasoline needs, mostly from the US. Pemex has fuel storage capacity for about three to five days’ supply.

There are at least six tankers carrying fuel anchored near the port of Pajaritos on Mexico’s east coast, while several more tankers are waiting at the ports of Tuxpan, Altamira and Dos Bocas, according to ship-tracking data.

One tanker, the 2016-built, Isle of Man-flagged, 30,948 gt British Seafarer (IMO 9724609) (entered with Britannia on behalf of Hai Kuo Shipping 1508 Ltd), has been anchored near Pajaritos for a month because there’s no demand, or storage space, for its cargo of regular gasoline, said an unnamed source.