Mexican President Andrés Manuel López Obrador said the country’s new Dos Bocas refinery, also known as Olmeca, will commence operations in February 2024.

The refinery, located in the state of Tabasco, will have a processing capacity of 340,000 bbl/d at full tilt, López Obrador, also known as AMLO, said Jan. 15 during his daily news briefing. It will supply 20% of the gasoline consumed in Mexico.

“That’s why it is important,” AMLO said. “It was a very good decision to build this refinery.

State-owned Petróleos Mexicanos (Pemex) processed an average 1,064,00 bbl/d in 2023, of which 794,000 bbl/d (75%) was produced in Mexico and 270,000 bbl/d (25%) was produced in Texas at the company’s Deer Park refinery.

AMLO’s political mandate has favored achieving energy self-sufficiency through increased domestic production and refining capacity. His presidential term comes to an end later this year.

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