Bond Breakers

North Safa is an active conventional oil field situated in shallow waters off the coast of Egypt. Specifically located in the Northeast Ramadan Concession block, the field operates at a water depth of 217 feet. Anticipated to reach peak production by 2026, North Safa’s oil extraction will persist until it reaches its economic limit in 2041, as per economic projections.

PEMEX is investing in constructing two new coker plants at the Tula refinery and Salina Cruz refinery, scheduled to go online in 2024, to phase out fuel oil production. The Salina Cruz cracking refinery, located in Oaxaca, Mexico, is a non-integrated cracking facility owned by Petroleos Mexicanos. It commenced operations in 1979 and boasts a Nelson Complexity Index (NCI) of 8.1. Works on the Salina Cruz unit began in 2022. The plant is expected to contribute to the elimination of fuel oil and the increased production of ultra-low sulfur gasoline and diesel at the refinery.