Olmeca refinery sees new schedule change

Mexico’s US$12bn-US$16bn Olmeca (formerly Dos Bocas) refinery in Tabasco state will process 170,000b/d of crude starting this year, with another 170,000b/d being added in December to reach nameplate capacity.

The details were presented by President Andrés Manuel López Obrador at a press conference.

At full capacity, Olmeca will produce 170,000b/d of gasoline and 120,000b/d of ultra-low sulfur diesel. While the project was inaugurated in July 2022, it has not yet processed any crude.

After a meeting with López Obrador and the managers of national refining operations earlier this week, energy minister Rocío Nahle told reporters that some operations would start on July 1.

Originally planned to start operations at end-2021 and demand US$8bn, timetables and specifications have frequently changed. López Obrador said earlier this month that full capacity would be reached in September.

According to its updated five-year business plan, owner Pemex does not project a significant rise in refining capacity until 2024, with full output expected for 2025. Some experts suggested processing might only start in 2024, as key facilities are far from finished.