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Mexico's president says Pemex's new refinery to start producing by early April
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Mexico's president says Pemex's new refinery to start producing by early April
Mar 12, 2024 9:37 AM

MEXICO CITY, March 12 (Reuters) - Mexican state oil

company Pemex expects its Olmeca refinery to start production by

early April, ramping up to 164,000 barrels per day (bpd) of

gasoline and 130,000 bpd of diesel by September, a presentation

shared by the country's president showed on Tuesday.

The new refinery in the port of Dos Bocas, in the

southeastern state of Tabasco, has a capacity to process 340,000

bpd of crude oil.

Previous start dates have been missed and costs have more

than doubled from the initial $8 billion estimated by the

government.

Mexico imports much of the gasoline it uses domestically -

despite being a producer of crude oil - but the president has

vowed to wean the country off imports.

President Andres Manuel Lopez Obrador said during his

regular morning press conference he had spoken to his team about

other options to bring the country closer to energy

self-sufficiency, including buying or building another refinery,

and investing in the six local refineries to increase output.

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