Free Trial
EURUSD TECHS

Shallow Correction

SCHATZ TECHS

(H3) Support Stays Intact

US TSYS

Marginally Cheaper In Asia

EQUITIES

Tech Headwinds Limit Gains

BOBL TECHS

(H3) Watching Support

BUND TECHS

(H3) Has Pierced A Key Short-Term Support

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Mexico's Olmeca Refinery Slated for July Start

REFINING

Mexican oil company Pemex's newest refinery -still under construction in Mexico's southeast - will begin to process crude oil in July 2023 according to the country’s Energy Minister Rocio Nahle.

  • The Olmeca refinery is key to President Andres Manuel Lopez Obrador's plan to make the country self-sufficient in gasoline and diesel.
  • Mexico is currently heavily reliant on refined fuel imports from US Gulf refiners. It was originally planned to come on line early last year.
  • In December, Lopez Obrador said that on July 1, the refinery "will begin to process 170,000 bpd of crude oil."
  • The refinery is expected to have 340,000 bpd at full capacity.
106 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Mexican oil company Pemex's newest refinery -still under construction in Mexico's southeast - will begin to process crude oil in July 2023 according to the country’s Energy Minister Rocio Nahle.

  • The Olmeca refinery is key to President Andres Manuel Lopez Obrador's plan to make the country self-sufficient in gasoline and diesel.
  • Mexico is currently heavily reliant on refined fuel imports from US Gulf refiners. It was originally planned to come on line early last year.
  • In December, Lopez Obrador said that on July 1, the refinery "will begin to process 170,000 bpd of crude oil."
  • The refinery is expected to have 340,000 bpd at full capacity.