Mexico is still mainly betting on oil

By Quentin Duval

Published ,

Mexican President Andrés Manuel Lopez Obrador (in the lead) during the inauguration, in July 2022, of the Dos Bocas refinery, with a production capacity of 340,000 barrels of oil daily. -/AFP

The energy policy of President “Amlo” is based on the public giants Pemex and CFE.

Mexico City

This is Andrés Manuel Lopez Obrador’s flagship project, the construction of a huge oil refinery in Tabasco, his native state. Dos Bocas will produce 340,000 barrels of oil daily, the largest capacity in Mexico, the world’s twelfth largest producer of black gold.

Officially inaugurated on 1er June 2022, in full construction, the complex was to be commissioned in December 2022, then in June 2023. It should finally be in December 2023. Despite the delays, the Head of State defends “the construction in four and a half years of a major work. Something that doesn’t exist anywhere else.”

A huge overhead

The additional cost of construction is very real. From a budget announced in 2019 of 8 billion dollars, the total amount has been multiplied by two according to the latest statements from Petroleos mexicanos (Pemex), the public company in charge of the construction and management of the future refinery.

Read alsoCarlos Slim, the multi-billionaire patron saint of Mexico

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