(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Given Mexico’s dependence on imported fuel, construction of two new refineries in the country “isn’t a business issue, it’s for energy security,” said researcher and hydrocarbons analyst Fluvio Ruiz Alarcón.
Just as recently as May 2018, Mexico imported 520,000 barrels per day of gasoline, which represented 65% national consumption during that month, reported the daily newspaper El Financiero, citing the analyst who referred to figures from state oil company Pemex.
In terms of whether it was better to reconfigure Mexico’s six existing refining complexes instead of building new ones, Ruiz Alarcón explained: “reconfiguration is basically building a refinery; just look at how long it took the projects that we’ve already done. They took years, ” added the adviser to the team of Mexico’s President Elect Andrés Manuel López Obrador (AMLO).
Ruiz said the first parts of the new president’s National Project consist of recovering the Bicentenario Refinery, a failed project of the Presidency of Felipe Calderón’s that was planned for construction in Tula, Hidalgo. The estimated construction cost of the refinery could range between $10 to $12 billion, depending on the type and size of the of refinery, he said.