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AMLO says Olmeca refinery will reach full production in August

Mexico City, Mexico — President Andrés Manuel López Obrador announced that the Olmeca refinery, built in record time during his government, will reach full production August 3.

At a morning press conference he explained that the complex will produce up to 260,000 barrels of gasoline per day.

The President reaffirmed that the rescue of Petróleos Mexicanos (Pemex) contributes to energy self-sufficiency and minimizes the import of gasoline from abroad which will benefit consumers by lowering fuel prices in real terms.

Unlike the previous administration which purchased up to 80 percent of the gasoline needed abroad, Mexico currently only buys 15 percent of these inputs.

During his government, the purchase of the Deer Park refinery in Texas was consolidated and investments are being made in the rehabilitation of the National Refining System (SNR) made up of the complexes of Cadereyta, Nuevo León, Ciudad Madero, Tamaulipas, Minatitlán, Veracruz, Salamanca, Guanajuato, Tula, Hidalgo, and Salina Cruz, Oaxaca.

The price of magna gasoline has dropped by an average of 5.8 percent annually during this six-year period. Meanwhile, oil production has increased so far this year to 1,852,000 barrels per day in contrast to the 1,642,000 barrels per day recorded in January 2019, at the beginning of the administration.

“We are coming out of the decadence. The worst period, especially because of the looting that took place, the theft of the people’s property, of the nation, is the period that ended when we arrived, the neoliberal or neo-Porfirista period from 1983 to 2018. It is when they stole the most, when they looted Mexico the most,” he argued.

“People are very happy, which is the most important thing. Wherever we go, people recognize what has been done,” he added.