Mexico announces measures to raise strategic fuel reserves
Mexico, Dec. 13 (Notimex).- The Energy Ministry published the Public Policy of Minimum Petroleum Inventories, which will allow Mexico to have strategic gasoline, diesel and jet fuel reserves to reinforce the fuel supply to the population in emergency situations.
This policy will also promote the development of petroleum storage infrastructure, thereby reinforcing national energy security, the agency said in a statement.
It specified that with this, in 2020 the minimum inventory volumes will be equivalent to five days of sales; in 2022 they will be from eight to nine days of sales, and from nine to 10 days as a quarterly average; and in 2025 the minimum inventory will be 10 to 13 days of sales and 12 to 15 days as a quarterly average.
It noted that the obligation to maintain minimum inventories will be applicable to marketers and distributors who sell to gas stations or end users.
The Policy establishes the obligation to report production statistics, imports, inventories and sales regionally by product, which will generate signs of abundance and scarcity necessary for the formation of prices and the detonation of geographic arbitrations, it explained.
The information report will be weekly, under normal conditions of supply, and daily, in an emergency in the supply.
The Energy Ministry added that the content of this policy was the result of a consultation process with the industry, conducted through working groups and formally, through public consultation on the page of the Federal Commission for Regulatory Improvement.