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Olmeca Processed 65k b/d of Crude in July but No Gasoline: Reuters

OIL PRODUCTS

Pemex said that the new 340k b/d Olmeca (Dos Bocas) refinery processed 65k b/d of crude in July, its first month of operations after multiple delays, Reuters said.

  • It processed just over 21.5k b/d of diesel and 8.8k b/d of coke, but no gasoline, Reuters added.
  • The refinery was commissioned with the aim of leaving Mexico self-sufficient in gasoline and diesel production.
  • However, Pemex is experiencing production declines in key fields and has made fewer significant discoveries.
  • Earlier in the month, Pemex’s CEO said Olmeca would be at full capacity by Aug. 21, producing 175k b/d of gasoline, 130k b/d of diesel.
  • However, the Aug. 21 target was met with incredulity as Pemex has repeatedly missed production targets.

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