The state-owned oil company Pemex and the Mexican Energy Ministry have decided to move forward with the construction of the US$8bn new refinery, so-called Dos Bocas, with a capacity of 340,000 bbl/d (including 170,000 bbl/d of gasoline and 120,000 bbl/d of diesel) to be built in the state of Tabasco. Construction is to start in June 2019 and is expected to be completed in 2022.
Earlier, when the government called for bids on the project, offered bids rose the costs to US$10bn to US$12bn and the construction completion was expected between 2023 and 2025. Under these circumstances, the government decided to take into its own hands the construction of the refinery.
The project is part of the Refining Plan for Mexico (December 2018) which also included the refurbishments of Pemex's six refineries existing in 2019. The refurbishment will have an estimated cost of US$9.5bn and should increase refining efficiency (as refining plants run at only around 40% of their capacity nowadays due to lack of investment). With this Plan, the total refining capacity of Pemex in 2022 is estimated to reach around 1.9 mb/d (+19%), including 781,000 bbl/d of gasoline and 560,000 bbl/d of diesel.
Pemex owns the 6 refineries of the country: Salina Cruz (330,000 bbl/d), Tula Hidalgo (315,000 bbl/d), Cadereyta (275,000 bbl/d), Salamanca (222,000 bbl/d), Madero (177,000 bbl/d) and Minatitlán (285,000 bbl/d); corresponding to a total capacity of 1.6 mb/d.
Interested in World Refineries?
Use this powerful business intelligence tool to assess current and future production capacities of oil products by country and by zone. Gain insight into companies' asset portfolios and future trends for refined oil production capacities, giving you the ultimate edge for strategy and decision-making.