Mexico starts the construction of the Dos Bocas oil refinery
Mexico will build its first oil refinery in decades - Photo: File Photo/EL UNIVERSAL

Mexico starts the construction of the Dos Bocas oil refinery

03/06/2019
16:14
Newsroom & Agencies
Mexico City
Reuters
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The President revealed that “every month, I host at least 20 meetings with foreign and Mexican investors who want to build a refinery”

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On Sunday, President López Obrador reiterated the need for oil independence during an event to mark the start of the construction of the Dos Bocas oil refinery.

“The most important thing at this moment in time is producing petroleum,” he added, saying the country needed to work toward “energy self-sufficiency,” he said during the event.

Since Mexico’s gasoline need is met by U.S. imports, López Obrador wants Mexico to be able to cover its own demand.

At the same event, Energy Minister Rocío Nahle said that Mexico would tender six contracts for the plan to build the country’s first oil refinery in four decades.

“We will be tendering six construction contracts at the end of June so that all the parts that are under construction can start at the same time and we can finish the refinery in three years,” she said, without providing more details.

Investors have repeatedly expressed concern that the project would divert funds from the more profitable exploration and production business at Pemex.

However, the President revealed that “every month, I host at least 20 meetings with foreign and Mexican investors who want to build a refinery.”

Nevertheless, in order to start with the construction, Mexican authorities were required to present an environmental impact assessment and a pre-approved land use change, however, the project will start with a partial pre-approved technical study that will be fully approved later this week.

López Obrador affirmed that the Dos Bocas oil refinery will be ready in three years and that with the rehabilitation of the country's other six refineries, Mexico will achieve energy self-sufficiency and insisted that the new oil refinery “is an act of justice for the region.”

However, due to the weather in Tabasco, the event took place at the Dos Bocas port and not at the location where the refinery will be built.
 

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