Private sector eyes Mexico refineries

MEXICO CITY, March 13, 2018 – The Secretariat of Energy has been approached by private investors interested in constructing new refineries in Mexico, Secretary of Energy Pedro Joaquín Coldwell said on Monday.

“Some groups that are interested in putting in refineries have approached the energy secretariat,” Secretary Coldwell told reporters. “It should be noted that the [energy] reform allows private investment in this type of business, but at the moment, there is not a single mature project. There are groups that are analysing areas such as Campeche, Tabasco, southern Veracruz and Tamaulipas, but they are long-term projects.”

The official’s comments come amid growing investor concerns in Mexico ahead of the July 2018 general election. Frontrunner Andres Manuel López Obrador (AMLO) has been heavily criticised by the country’s business community regarding his stance on major upcoming infrastructure projects and Mexico’s recent energy reform.

“We’re going to change the energy policy of this country; that’s a fact,” Rocio Nahle, AMLO’s pick for energy secretary, told the Wall Street Journal yesterday.

In a February interview with Forbes, Nahle said that AMLO was in favour of building two new 300,000-bpd refineries, possibly under the public-private partnership model, and that he would also end crude exports to the USA to ensure that Mexico produced its own petrol and diesel.

Read our latest insights on: