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Mexico's AMLO Declares Pemex Support

REFINING

Mexico’s President Andre Manuel Lopez Obrador said his nation will continue to support state oil producer Pemex.

  • Pemex is working on ramping up its refining operations and reducing its debt load.
  • “We will continue defending Mexican petroleum and recovering our sovereignty,” AMLO said. “Long live Pemex! Long live Mexico!”.
  • Pemex’s CEO said Monday that the company is aiming to boost refinery output to 1.7mn bpd by the end of the year.
  • “The next government will inherit a stronger Pemex, with growing production and reserves,” and lower debt levels, Romero said.
  • Dos Bocas, the company’s seventh refinery, in AMLO’s home state of Tabasco is set to increase fuel output. He said last week that fuel is expected from the refinery in April but has faced numerous setbacks.

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