Mexico’s energy sector has a problem. In order to satisfy the growing demand for high-value transportation fuels, such as gasoline and diesel, Mexico must import billions of dollars worth of these fuels each year. Imports alone are not sufficient to meet Mexico’s needs, so the country’s oil refineries have been required to increase their output to make up the shortfall.
As well as boosting transportation fuel supply, increased refinery output has inadvertently led to an oversupply of heavy fuel oil, which is primarily used in the power sector. With the government’s focus on energy security, this surplus HFO must be sold off cheaply to the domestic power market or exported, costing the country billions of dollars in lost revenues each year and hindering Mexico’s ability to reduce emissions and fulfil its climate goals.
Quadrise Fuels International plc (LON:QFI) is the global innovator and licensor of disruptive heavy oil technology that produces MSAR® fuel. The Quadrise team is a unique combination of energy sector experts and fuel specialists that were instrumental in the prior commercialisation of 60 million tons of Orimulsion® fuel worldwide.