financetom
Business
financetom
/
Business
/
Mexico's new Olmeca refinery operated at 17% of capacity in November, data shows
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Mexico's new Olmeca refinery operated at 17% of capacity in November, data shows
Dec 26, 2024 7:58 AM

MEXICO CITY, Dec 26 (Reuters) - Mexican state energy

company Pemex resumed refining operations at is new

Olmeca refinery in November, working at nearly 17% of its

340,000-barrel-per-day (bpd) capacity after being fully offline

in October, official numbers showed this week.

Output at the refinery, located in the port of Dos Bocas,

remains far below the government's targets and hampers plans to

make the country self-sufficient in motor fuels.

In November, it processed 59,466 bpd of crude oil, numbers

released by the company late on Tuesday showed. Of the month's

output, 7,038 bpd were diesel, 1,582 bpd gasoline and 5,742 bpd

petroleum coke.

Together with its other six local refineries, Pemex refined

751,797 bpd that month, the second lowest for a single month,

operating at 39% of their combined capacity.

Inaugurated in July 2022, the refinery has cost close to $17

billion, more than double of what was initially budgeted for the

landmark infrastructure project of former President Andres

Manuel Lopez Obrador. So far, it has not fully worked.

The government of President Claudia Sheinbaum has reiterated

promises that the venture would bring the country closer to

self-sufficiency in diesel and gasoline, although has recently

confirmed that the new refinery was still being tested.

Sheinbaum, like her predecessor and political mentor Lopez

Obrador, seeks "energy sovereignty" to stop importing motor

fuels, though official numbers show this has not materialized.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved