• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 2 hours Sources confirm Trump to sign two new Executive orders.
  • 10 hours CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 hours In a Nutshell...
  • 2 hours No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 23 hours Why Wind is pitiful for most regions on earth
  • 10 hours A Real Reality Check on "Green Hydrogen"
  • 1 day Why Oil could hit $100
  • 10 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 1 day During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 4 mins Sometimes I Think Trump Supporters on This Forum Are Russians
  • 10 hours Putin Paid Militants to Kill US Troops
  • 1 hour Where is Alberta, Canada headed?
  • 3 days Coronavirus hype biggest political hoax in history
Why The Bakken May Not Come Back

Why The Bakken May Not Come Back

The Bakken shale is already…

Mexico’s $8B Refinery Could Have ‘Severe’ Impact On Air Quality

Mexico’s planned US$8-billion oil refinery in the home state of President Andrés Manuel López Obrador would have a ‘severe’ impact on air quality in the area, Reuters reported on Thursday, citing an unredacted version of the environmental impact assessment that state oil firm Pemex has made.

Pemex will be the company to work on the refinery project, a key campaign pledge of leftist President López Obrador who promised to reduce Mexico’s reliance on fuel and refined product imports, most of which come from the United States.

The publicly available version of the environmental impact assessment is overall positive, according to Reuters. Many environmental impacts of the planned refinery would be ‘moderate’, but there would be a ‘severe’ impact on air quality in the area in Dos Bocas, in López Obrador’s home state of Tabasco, according to the assessment that Reuters has reviewed.   

Last month, Mexico scrapped plans to tender the construction of the refinery to foreign companies, saying that it would be Pemex that would oversee the project. According to López Obrador, the foreign firms would be unable to meet the government deadline to have the project ready by 2022 and weren’t happy with the US$8-billion price tag.

“The company has secured the financial, technical, human and material resources necessary to complete the project,” Pemex said in a statement in May. According to Pemex and López Obrador, the entire project will cost US$8.35 billion (160 billion Mexican pesos) and will create 100,000 jobs. Construction is expected to conclude in May 2022.

Analysts, however, doubt that Mexico could complete the project on time and on budget, which could put additional strain on the already stretched finances of the government and Pemex.

According to Moody’s, the project is expected to exceed the planned budget—in a big way—because of Mexico’s “limited know-how” in such large-scale ventures.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News