Top manager of the Mexican state oil company Pemex Estimated Thursday, new Waste-treatment plant the company will process 243 thousand barrels per day (bpd) crude oil in 2024, during the first year of operation, and then reaching near full capacity in 2025.
Refinery Olmec, one of the flagship infrastructure projects Andres Manuel Lopez Obradorwill also produce a total of 274 thousand barrels per day. gasoline, diesel and fuel on planes when the president leaves office in September, according to a presentation by the Pemex CEO. Octavio Romero.
However, in the presentation, he said that by the end of 2024, production of gasoline, diesel and aviation fuel at the new refinery will decrease to 208 thousand barrels per day.
Oil refinery built on the south coast Gulf of Mexico, suffered numerous setbacks, including missing several deadlines and running into billions of dollars in cost overruns. The refinery’s processing capacity will be 340 thousand barrels per day.
Romero plans to increase the company’s total crude oil refining capacity to 1.5 million barrels per day in 2024, or more than 40% compared to last year’s refining volumes.
One of the main goals of the López Obrador government was to increase the production of Pemex gasoline and diesel fuel so that the country would no longer depend on imported fuel, mainly from companies based in USA.
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The head of Pemex also said that the production of petroleum liquids by the state-owned company, including oil production, raw and condensed, Last year it was about 1.88 million barrels per day, with private oil companies producing another 67 thousand barrels per day in 2023.
Romero also estimated that Pemex’s proven oil reserves will remain stable at 7.4 billion barrels of oil equivalent in 2024.
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
