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Mexican energy minister says new refinery almost a quarter complete

October 21/2020

MOSCOW (MRC) -- Mexican Energy Minister Rocio Nahle said that construction of the countrys new refinery at the southern Gulf coast port in Dos Bocas was almost a quarter completed, said Reuters.

A confidant of Mexican President Andres Manuel Lopez Obrador, an energy nationalist who favors a stronger state role in the sector, Nahle said construction was 24% completed and had entered the next phase. The government has said it aims to finish the refinery by 2022.

The government has put an $8 billion price tag on the refinery, but independent analysts have said that figure is low. Investors and ratings agencies have criticized the project, arguing that resources should go instead to more profitable parts of state oil company Petroleos Mexicanos, or Pemex.

"We want to be self-sufficient, Lopez Obrador reiterated at the same event, held in his home state, Tabasco. Its very important that we continue with this project."

As MRC informed earlier, European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative - converting plants to produce biofuels.

As MRC wrote before, on 15 October, The European Commissionadopted the EU's chemicals strategy for sustainability, describing it as the first step towards a zero-pollution ambition for a toxic-free environment announced in the European Green Deal.

We remind that Russia's output of chemical products rose in August 2020 by 5% year on year. At the same time, production of basic chemicals increased year on year by 5.3% in the first eight months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-July output. August production of benzene fell to 102,000 tonnes from 95,300 tonnes a month earlier due to scheduled shutdowns for maintenance at several producers. Overall output of this product reached 918,300 tonnes over the stated period, down by 0.9% year on year.

At the same time, August production of primary polymers rose to 888,000 tonnes against 838,000 tonnes in July due to increased capacity utilisation at ZapSibNeftekhim, Stavrolen and Gazprom neftekhim Salavat. Overall output of polymers in primary form totalled 6,630,000 tonnes over the stated period, up by 15.2%  year on year.
Author:Anna Larionova
Tags:petroleum products, PP, PE, biodizel, neftegaz, petrochemistry.
Category:General News
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