Workers stand at one of the access to the state oil company Pemex's Olmeca refinery in Dos Bocas, Paraiso, Mexico June 21, 2024.
Margarita Perez, director of Pemex’s trading arm, PMI, announced on Monday during an event that the Olmeca refinery, also known as Dos Bocas, will process approximately 100,000 barrels per day (bpd) once fully operational. The facility is designed to handle 340,000 bpd, contributing to a total domestic refining capacity of 1.2 million bpd. As a result, crude oil available for export is projected to drop to around 400,000 bpd.
Perez highlighted initial operations at the Olmeca refinery, stating: “We have exported (diesel) from the Dos Bocas refinery, as production is starting up.” She did not provide specific details on the volumes of diesel exported.
Earlier reports from April indicated that two tankers carried ultra-low sulfur diesel, initially produced at the Madero refinery and further processed at Olmeca, for export. The shipments were necessitated by limited storage infrastructure at the time.
The increased focus on domestic refining reflects Mexico’s strategy to enhance its energy self-sufficiency. By channeling more crude oil to local facilities like Olmeca, Pemex aims to meet domestic fuel demand while reducing reliance on imported refined products. The Olmeca refinery, a key component of this plan, is expected to play a significant role in processing crude oil and producing fuels for the domestic market.
This adjustment in export volumes underscores Pemex’s efforts to balance local processing needs with international trade commitments. The company continues to refine its operations to support Mexico’s energy goals, with the Olmeca refinery serving as a cornerstone of these efforts.
