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Mexico's Olmeca Refinery Set for Further Delays

REFINING

A new oil refinery belonging to Mexico's Pemex will again miss its promised launch date to begin production according to a report seen by Reuters.

  • The report stated that the current July goal was "not feasible."
  • The Olmeca facility is designed to boost motor fuel production and reduce the need for costly imports -most of which come from the US.
  • The refinery is designed to process 340,000 bpd of oil and should produce 280,000 bpd of gasoline and diesel.
  • The audit report, which is dated this month and is not public, indicates "that the July 2023 start date is not feasible" and that construction of the refinery's coking plants needed to efficiently process Pemex's heavy crude are "not yet finished."
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