Mexico names new energy minister

MEXICO CITY, October 17, 2023 – Mexican President Andres Manuel Lopez Obrador has chosen a new energy minister, Reuters reported on Tuesday.

Miguel Angel Maciel, who previously held the position of deputy minister, will replace Rocio Nahle who served as energy minister and board member of Mexico’s NOC Pemex since 2018.

Nahle stepped down on Friday to run as governor of the state of Veracruz.

Maciel will now oversee the construction of Mexico’s eighth refinery, a mega-project that has been met with delays.

When completed, the Olmeca refinery will have an installed capacity of 340,000 bpd and produce 170,000 barrels of petrol and 120,000 barrels of ultra-low-sulphur diesel. The asset will be Mexico’s largest refinery.

The project is located on a 5.86-square-kilometre site near the Dos Bocas maritime terminal.

This along with Pemex’s USD 600-million acquisition of a 50% stake in the Deer Park refinery in Texas in 2022 are part of Obrador’s bid to build energy self-sufficiency via a robust refining capacity and ending Mexico’s crude exports as well as its imports of petrol.

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