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New PEMEX Refinery Expected to Start Crude Processing in July

1/25/2023

The Pemex owned Dos Bocas refinery, also known as the Olmeca refinery, will begin its crude oil processing in July 2023, according to recent comments from Energy Minister Rocio Nahle. This initial capacity will be for 170,000 barrels per day, with a peak expectation of 340,000 barrels per day.

These comments follow the official inauguration of the refinery in 2022. This refinery was originally expected to come online sometime that year as well, but delays slowed that timetable and costs have nearly doubled from the project’s initial $8 billion USD figure. Mr. Nahle added that things at Dos Bocas are “going really well” for the project, and separate remarks from Mexican President Andrés Manuel López Obrador in December 2022 indicated an expectation of full processing capacity of 340,000 barrels per day onsite in September 2023.