López Obrador Defends Cadereyta Refinery / Dos Bocas Update

PEMEX Updates. President Andrés Manuel López Obrador dismissed claims of overpricing at the Dos Bocas refinery, alleging the project had comparatively low cost and swift construction. He confirmed the Olmeca refinery in Dos Bocas will begin refining operations by June 2024.

Octavio Romero Oropeza, CEO, PEMEX, said that the Olmeca refinery cost nearly US$17 billion by March 2024. He also presented a comparative table showcasing the project’s efficiency compared to other global refineries, saying that it was built in record time and at lower costs. He added that the refinery will soon start diesel production tests. 

Romero also denied benefiting the company High Performance Drilling and Well Solutions Equipments, stating that the NOC has no contracts with it. Regarding Tecnologías Relacionadas con Energía y Servicios Especializados (TRESE), a company in dispute with its partners, Romero said that it is a private legal matter.

To settle payment disputes, PEMEX issued a deposit slip from Banco Bienestar that was awarded by a court to Sistemas Integrales de Compresión. Romero added that the contract with this company was terminated on Nov. 27, 2023, with payment already made.

Cadereyta Refinery. President López Obrador also defended Nuevo Leon’s Cadereyta Refinery against pollution allegations. He accused other companies of causing the pollution affecting Monterrey’s metropolitan area. López Obrador stated that PEMEX has ensured that the refinery complies with regulations, adding that criticism might stem from political motives.

Agricultural Protests. López Obrador voiced support for the Governor of Sinaloa Rubén Rocha and the Governor of Sonora Alfonso Durazo, suggesting that recent agricultural protests in Sinaloa are politically motivated due to the upcoming elections. López Obrador commended Rocha for confronting traditional vested interests and conservatives amid election season.