Mexico announces feasibility study for new refinery

Mar 20, 2008 01:00 AM

The Mexican energy ministry and the state-run energy company have begun a feasibility study to build a new refinery, the country's President Felipe Calderon announced.
The new refinery is being considered because Mexico is "an oil-producing country importing 40 % of our gasoline, and what we produce does not measure up national and international environmental standards," Calderon said.

Mexico's six existing refineries process 1.3 mm bpd of crude oil into gasoline, aircraft fuel, diesel and bunker fuel.
"Starting work will allow us to have, in the near future, a new refinery, a good way to celebrate the 70th anniversary of expropriation," Calderon said. Mexico expropriated 16 foreign companies to form the state company Petroleos Mexicanos (Pemex) in 1938.

In the same speech, Calderon also reaffirmed that Pemex will not be privatized.
"Today, as it has been for 70 years, oil is and will remain the property of all Mexicans, and we will continue to exercise our full sovereignty over our hydrocarbons," he said. The president further called for an "open, objective and calm" assessment of Mexico's energy needs, with the goal of strengthening the oil industry and the nation.

Source / Xinhua News Agency
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