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LatinNews Daily - 08 November 2021

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In brief: Mexico’s López Obrador announces new refinery investment

* Mexico’s President Andrés Manuel López Obrador has announced a new M$60bn (US$2.95bn) investment to complete a coking plant at the Tula refinery, Hidalgo state. Flanked by his federal ministers of finance (Rogelio Ramírez); energy (Rocío Nalhe); interior (Adán Augusto López) and the director of state-owned oil company Pemex, Octavio Romero, President López Obrador said that the investment would create 8,000 new jobs and produce an additional 30,000 additional barrels per day (bpd) of gasoline. This is in line with his government’s efforts to reduce Mexico’s dependence on imported fuels.