Mexican state-owned oil and gas company Pemex has announced that it would invest US$23bn in new projects at its Mexican refineries.
The company plans to invest US$3.1bn to increase the production of ultra-low sulphur gasoline (up to 210,000 bbl/d) in the country's six refineries, which should help reduce greenhouse gas (GHG) emissions by more than 90%; Pemex plans to invest US$250m in the Hidalgo refinery, to install a 30,000 bbl/d desulphurisation unit. The company will also invest US$3.9bn to boost the production of ultra-low sulphur diesel in its six refineries (construction of 19 new units and modernisation of 17 external units).
Nearly US$5bn will be invested in the reconfiguration of the Tula refinery, where the refining capacity will be raised by 25,000 bbl/d to 340,000 bbl/d, while US$8bn will be directed to the refurbishment of the Salamanca and Salina Cruz refineries.
Finally, Pemex will invest US$3.7bn in the development of three CHP projects at the Tula refinery in Hidalgo, the Cadereyta refinery in Nuevo Leon and Salina Cruz refinery in Oaxaca, and in the development of a gas processing complex in Cactus (Chiapas).
In addition, the company has announced new oil and gas discoveries in both deepwater and shallow water: Pemex has incorporated 3P reserves of over 1 Gboe, of which 60% are in shallow waters, 35% in deep water and 5% in land areas.