- Home
- Business
- Mexican President Says Plans to Announce Tenders for New Large Oil Refinery's Construction
Mexican President Says Plans To Announce Tenders For New Large Oil Refinery's Construction
Rukhshan Mir (@rukhshanmir) Published December 10, 2018 | 05:27 AM
MEXICO CITY (UrduPoint News / Sputnik - 10th December, 2018) Mexico's new President Andres Manuel Lopez Obrador said on Sunday that tenders for the construction of a new large oil refinery in the country's southeastern state of Tabasco would be announced no later than March 2019.
"The oil refinery will be built here because oil will be processed here as well, it will not be exported.
This is the best site for the construction of the new refinery," Obrador said at a ceremony of the laying of a symbolic cornerstone for the future facility as quoted by the Excelsior news portal.
The Mexican president also confirmed that the state-owned Pemex petroleum company would receive additional $3.6 billion to boost its oil production.
According to Obrador, Mexico will seek to increase oil production from the current less than 1.8 million barrels per day to 2.4 million barrels per day in 2024. The new oil refinery is expected to process 340,000 barrels of oil per day.
Recent Stories
Russia targets Ukraine railways as Western aid due to arrive
Football: French Ligue 1 table
Miner Anglo American rejects BHP's near $39-billion takeover bid
115 held for selling roti at higher rate
New Zealand cricket CEO visits PSCA, expresses satisfaction over security arrang ..
NAB Lahore holds open court, promises compensations for victims
2 injured over money dispute
At least 10 people killed in Brazil fire: officials
'Transforming Punjab Agriculture' plan to help develop farm sector on modern lin ..
Chairman PRCS engages in humanitarian collaboration with ambassador of Morocco
US stocks rebound on tech earnings, London hits new record
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
More Stories From Business
-
US stocks rebound on tech earnings, London hits new record
34 minutes ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
35 minutes ago -
SBP to announce monetary policy on April 29
35 minutes ago -
50pc cut in subsidy of BRT service likely: CM’s aide
2 hours ago -
PSX gains 771 points
2 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
3 hours ago
-
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
2 hours ago -
Coca-Cola invests an additional $22 million in Pakistan
3 hours ago -
SECP Introduces SECP-XS: A swift complaint resolution platform
3 hours ago -
SBP to announce monetary policy on April 29
2 hours ago -
London stocks hit new record peak on takeovers
2 hours ago -
Rupee sees slight recovery against US dollar
2 hours ago