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Cost of Dos Bocas refinery increased to $9.8 billion

Dos Bocas, Tabasco — The cost of the new Petróleos Mexicanos (Pemex) refinery in Dos Bocas has increased by more than $900 million. In a Wednesday broadcast interview, Energy Secretary Rocío Nahle said the cost is now $9.8 billion.

The official explained that the project will cost $900 million more than initially estimated due to extensions. He said since the start of the project, the construction of an electricity cogeneration plant has been added, and for the autonomy of the Olmeca refinery, a 65 kilometer gas pipeline and aqueduct.

“These are part of the extensions. That’s why we went further. At the beginning, the refinery was at $8.9 billion and with the expansion of the gas pipeline, aqueduct and combined cycle, we are going to $9.8 billion,” he explained.

AMLO plans to inaugurate the Dos Bocas plant on July 2. When complete, the plant will have the capacity to process 340,000 barrels per day (bpd) of crude oil, amid skepticism from some experts.

López Obrador said that the production of Dos Bocas, together with that of the other six local Pemex refineries and that of Deer Park in Texas, will allow Mexico to be self-sufficient in gasoline and diesel in 2023, a time when he has also said that Pemex will stop export crude for processing at home.