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Singapore's fuel oil imports from Mexico drop 45% year on year over Jan-Oct

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Singapore's fuel oil imports from Mexico drop 45% year on year over Jan-Oct

  • Author
  • Atsuko Kawasaki
  • Editor
  • Liz Thang
  • Commodity
  • Oil

Singapore — Singapore imported 636,206 mt of fuel oil from Mexico over January-October this year, down 44.7% a year ago, the latest data from Enterprise Singapore showed this week.

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Industry sources attributed the drop to lower running rates of refineries in the country.

Mexico's largest refinery, the 330,000 b/d Salina Cruz facility, was shut twice in August due to power outages, S&P Global Platts reported earlier.

Pemex's 190,000 b/d Madero refinery and 285,000 b/d Minatitlan refinery underwent major repairs in June and July, respectively.

As a result, Pemex's total refining utilization rate during the third week of October reached a record low of 25.7%, an operation report from the Mexican state company showed Tuesday, Platts reported previously.

The company processed 425,800 b/d of crude oil in the second week of October, 64,100 b/d less than in the previous week and down from 866,000 b/d in mid-April.

Fuel oil from Mexico typically has high density and high viscosity.

--Atsuko Kawasaki, atsuko.kawasaki@spglobal.com

--Edited by Liz Thang, elizabeth.thang@spglobal.com