off-the-wire

UPDATE 1-Mexico's Pemex to lift crude processing to 1.2 mln bpd this year

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Updates with quote, current crude processing) MEXICO CITY, March 16 (Reuters) - Mexican state-run oil company Petroleos Mexicanos, also known as Pemex, expects to increase its crude processing to 1.2 million barrels per day (bpd) this year, Energy Minister Rocio Nahle said Thursday. The rise from 922,000 bpd processed currently would come from Mexico's six active refineries along with Pemex's refinery in Deer Park, Texas, Nahle said at President Andres Manuel Lopez Obrador's regular news conference. "Our commitment is to process 1.2 million barrels (per day) this year," she said.


Nahle added that the


Olmeca refinery , which she has previously said will begin to process crude oil in July, is expected to help Mexico become self-sufficient in gasoline and diesel in 2024.




(Reporting by Ana Isabel Martinez; Writing by Kylie Madry)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.