Despite being a major crude exporter and home to significant refining capacity, Mexico has relied for many years on imports to meet its domestic fuel demand. Back in 2018, President Obrador came to power with the promise that he would end Mexico’s import reliance and to do this commissioned the 340,000 b/d Dos Bocas (now called Olmeca) refinery project on the country’s Caribbean coastline. After several cost overruns, which isn’t unusual in refinery projects, the facility is now gearing up to produce refined products and is seeking to move close to capacity by the end of 2023.
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