UPDATE 1-Mexico's Pemex boosts gasoline imports in wake of shortages

miércoles 8 de julio de 2015 14:14 GYT

(Adds vessel bookings data through early July, analyst comment)

MEXICO CITY, July 8 (Reuters) - Mexican state-owned oil company Pemex is ramping up gasoline imports and boosting domestic production at two major refineries after fuel shortages led to long lines at gas stations in several states this week.

Pemex announced on Monday an "extraordinary" gasoline import surge of 75,000 barrels per day (bpd), which company data showed was in addition to gasoline imports that totaled 370,000 bpd in May.

P.M.I. Comercio Internacional, Pemex's commercial arm, has already booked just over 1 million tonnes of oil product imports in June and through the first week of July, up from imports of about 410,000 tonnes during both months last year, according to vessel booking data from Thomson Reuters Eikon.

More than half of Mexico's fuel imports in recent months have been gasoline.

"They came into the market at a bad time," said Robert Campbell, head of oil products research with Energy Aspects, referring to Pemex's buying spree.

Ultra-strong gasoline demand worldwide, from the United States to India, has soaked up much of the world's excess supply. Additionally, problems at gasoline-making fluid catalytic crackers in Venezuela and the United States have tightened availability and created more rival buyers.

Since Monday, Pemex has not responded to requests for more information.

Pemex has blamed the shortage on an increase in illegal taps on gasoline pipelines, a long-standing problem but one that is on pace to set a record this year.   Continuación...