LatinNews Daily - 14 April 2022

In brief: Mexico’s new oil refinery nears completion

* Mexico’s energy ministry (Sener) has announced that construction of the Olmeca oil refinery (formerly known as Dos Bocas) in Tabasco state is at 87% completion and is on track to begin operations this year. Mexico’s energy minister, Rocío Nahle, recently told national daily El Universal that the construction cost of the refinery had risen by US$900m to US$9.8bn due to additions of an electricity plant, as well as a gas pipeline and an aqueduct. Delivering the first quarterly report of his fourth year in office yesterday, President Andrés Manuel López Obrador said the refinery would be operating by July. The Olmeca megaproject, along with the recently acquired Deer Park oil refinery in Houston, Texas, are key parts of López Obrador’s goal to reach energy self-sufficiency, allowing the country to no longer import fuels or export crude oil.

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