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Mexican president says new Pemex refinery running at about 80% of capacity
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Mexican president says new Pemex refinery running at about 80% of capacity
Oct 10, 2024 11:26 PM

MEXICO CITY, Oct 10 (Reuters) -

Mexico's state-owned Pemex's new oil refinery is processing

crude at about 80% of its capacity, the country's president said

on Thursday, an amount that marks a big jump from the company's

latest official data.

The Olmeca refinery located near Mexico's Gulf coast port of

Dos Bocas features a 340,000 barrel daily processing capacity,

the largest of Pemex's seven domestic facilities.

"The latest report I have shows that it's more or less at

about 80%," said Mexican President Claudia Sheinbaum, when asked

about the refinery's current operations at her morning press

conference.

Pemex's most recent data from the end of August showed the

refinery running at about a quarter of its capacity, or about

84,100 barrels per day (bpd).

The Olmeca refinery was a top priority for Sheinbaum's

predecessor, who sought to boost domestic refining.

The facility has suffered multiple delays coming online, and

its $16.4 billion cost was more than double its initial price

tag. Pemex's previous chief executive said it would be running

at full capacity in August.

Earlier this week, Sheinbaum's new Energy Minister Luz Elena

Gonzalez said Mexico is now producing 90% of the gasoline the

country's motorists consume.

Pemex's August data showed that Pemex produced around

290,000 bpd of gasoline while importing nearly 417,000 bpd.

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