Pemex to Build $9.1 Billion Refinery

April 14, 2009

The new unit will have a production capacity of 300,000 barrels per day.

Mexican national oil company Pemex announced on April 14 it would build a new refinery in the central state of Hidalgo, investing $9.1 billion in the project.

The new unit will have a production capacity of 300,000 barrels per day and the construction charge will be taken in 2011, Pemex director general Jesus Reyes Heroles said.

Mexico's six refineries -- the newest of which dates back to 1979 -- are insufficient to refine the country's total crude production of 2.8 million barrels per day.

Part of Mexico's oil is currently refined in the U.S.

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