The AMLO administration is betting that Mexico can be self-sufficient in fuel by 2025.
The Olmeca refinery will begin refining oil as of January 31, 2024; Octavio Romero Oropeza, general director of Petróleos Mexicanos (Pemex), reported on Thursday, January 4.
“The six refineries are going to undergo rehabilitation to produce one million barrels, while Dos Bocas, starting January 31 and in February, will enter production with 243 thousand barrels on average,” he said.
During the president’s morning conference, he stated that the state oil company has doubled gasoline production under the management of Andrés Manuel López Obrador and reiterated the promise that Mexico will be self-sufficient in fuel by 2025.
In November 2018, a month before AMLO’s administration began, Pemex produced about 300 thousand barrels a day of gasoline, diesel and jet fuel. Now, in 2023, it closed at 655 thousand barrels, the official stated.
“That is, all the oil we produce in our country will be refined and there will no longer be a need to buy gasoline from abroad after the end of this Administration,” he added.
The Pemex manager attributed the figures to the investment of 574 billion pesos (almost 33,765 million dollars) made by the López Obrador Government.
This includes the rehabilitation of the six existing refineries, the acquisition of Deer Park in the United States, and the construction of the new Dos Bocas refinery, which will begin refining on January 31.
“Pemex today, the country today, processes more than double what we receive. We are processing over a million barrels per day. Now, what are we thinking for 2024? Reach 1 million 512 thousand,” said Romero Oropeza.
The official also reaffirmed the Administration’s goal to stop exporting crude oil, noting that in 2024 domestic sales will now represent 83.3 percent of Pemex’s income, up from the 66.1 percent ratio in 2021.
Pemex is considered the most indebted oil company in the world, but Romero Oropeza pointed out that the debt has dropped 17.4 percent in this Administration to 106.8 billion dollars, a reduction of 22.5 billion US dollars.
TYT Newsroom