PEMEX assures that Deer Park and Dos Bocas will provide México with fuel self-sufficiency

Photo: (Excèlsior)

The director of Pemex, Octavio Romero, highlights the acquisition of the Texas refinery; Pemex will be able to produce 1.3 million barrels per day to supply demand in the country

MEXICO CITY, May 26, 2021, (EXCÈLSIOR).- The director of Pemex, Octavio Romero Oropeza, pointed out that once the Dos Bocas and the Deer Park refineries, come into operation and the six existing ones are rehabilitated, Pemex will be able to reach the production of fuel oils to supply the national demand.

In a conference at the National Palace, Octavio Romero stressed that once all the refineries are in operation, Pemex will be able to “produce over 1 million barrels per day to supply the demand for gasoline, diesel, jet fuel and other petroleum products.”

He stressed that the purchase for 596 million dollars of 50,005 percent of the shares from Shell of the Deer Park refinery, of which Pemex already had the other half of the shares, will be important for the fulfillment of the country’s fuel self-sufficiency.

“Deer Park has access to a supply of all types of crude, with better profits due to its geostrategic location in the ‘refining capital of the world.’ It will be an important step towards the fulfillment of fuel self-sufficiency. Taking over the operation will allow directing its production to satisfy the demand in Mexico ”, he commented.

According to Romero Oropeza, the Deer Park refinery has the capacity to process 340 thousand barrels per day; it also produces about 110 thousand barrels of gasoline, 90 thousand of diesel and 25 thousand of jet fuel, among other products.

The manager also specified that between 2002 and 2019 the refinery had a production of more than 300 thousand barrels per day of oil.

In this regard, the independent director of the Pemex Board of Directors, Laura Izel Castillo Juárez, highlighted the acquisition of the Deer Park refinery to immediately increase oil processing in Mexico.

Mexican oil
@Pemex
May 24 2021
The @G GobiernoMX, through #PEMEX, decides to acquire the #Shell stake to fully own the Deer Park refinery for which sufficient resources are available without resorting to debt.

Source: Excèlsior



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