State oil monopoly Pemex will boost capacity at its biggest refinery, Salinas Cruz, by 9 percent in a $4 billion expansion, its head of refining said, part of Mexico’s aim to wean itself off supplies of refined production from the United States. The Mexican government will seek a major overhaul of the domestic industry later this year, and Pemex is under pressure to boost output and efficiency in the country’s lumbering energy sector.
Miguel Tame, Director General of Pemex’s PEMX.UL refining arm, told the Reuters Latin American Investment Summit that the company was about to begin the overhaul at Salinas Cruz, which would increase production by 30,000 barrels per day (bpd) when completed in 3-4 years. “That is where I have space, where I have storage tanks and pipelines to bring as much crude as possible,” Tame said in an interview. “I can still boost daily processing at Salinas Cruz by 30,000 barrels if I undertake the reconfiguration.”