Mexico Refining News This expansion is part of Pemex's larger goal to boost its total petroleum liquids production, which averaged 1.88 million bpd last year. Additionally, the company's proven oil reserves are projected to remain stable at 7.4 billion barrels of oil equivalent in 2024. The gradual increase in processing capacity at the Olmeca refinery is anticipated to provide substantial economic benefits, supporting the local economy and solidifying Mexico's position in the regional energy market.
The initial processing stages at Olmeca have already begun, with Pemex starting to feed 16,300 bpd of crude oil into the facility. This volume is expected to gradually increase as the refinery moves closer to full operational capacity. Despite the initial setbacks, the start of crude processing at the Olmeca refinery represents a significant achievement for Pemex and Mexico's broader energy strategy.
By Julianne Geiger for Oilprice.com