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Free AccessOlmeca Refinery in Dos Bocas Remains Behind Schedule
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.