June 30, 2022 10:21 GMT
Mexico’s Olmeca refinery in Dos Bocas is set to be inaugurated on Friday by the country’s president, shortly after which, the refinery will begin a test process with the aim of then increasing production though a timeline is uncertain.
- Mexico’s president, Andrés Manuel López Obrador, has pushed for the refinery to reduce the countries dependence on costly refined product imports, most of which arrive from the US Gulf.
- The refinery is not yet finished and is not expected to be running near capacity until at least 2025-2026. When finished, the refinery is designed to have a capacity of 340,000 bpd. It is not clear what the production capacity of the refinery will be over the short term.
- The countries energy minister has refused to say when the refinery will begin producing fuels but has said, "A year is a reasonable amount of time, I'd like to do it sooner".
- Pemex refineries have been consistently running well below capacity this year based on company data.