Mexico's new Olmeca refinery operated at 17% of capacity in November, data shows

By Ana Isabel Martinez

MEXICO CITY, Dec 26 (Reuters) - Mexican state energy company Pemex PEMX.UL resumed refining operations at is new Olmeca refinery in November, working at nearly 17% of its 340,000-barrel-per-day (bpd) capacity after being fully offline in October, official numbers showed this week.

Output at the refinery, located in the port of Dos Bocas, remains far below the government's targets and hampers plans to make the country self-sufficient in motor fuels.

In November, it processed 59,466 bpd of crude oil, numbers released by the company late on Tuesday showed. Of the month's output, 7,038 bpd were diesel, 1,582 bpd gasoline and 5,742 bpd petroleum coke.

Together with its other six local refineries, Pemex refined 751,797 bpd that month, the second lowest for a single month, operating at 39% of their combined capacity.

Inaugurated in July 2022, the refinery has cost close to $17 billion, more than double of what was initially budgeted for the landmark infrastructure project of former President Andres Manuel Lopez Obrador. So far, it has not fully worked.

The government of President Claudia Sheinbaum has reiterated promises that the venture would bring the country closer to self-sufficiency in diesel and gasoline, although has recently confirmed that the new refinery was still being tested.

Sheinbaum, like her predecessor and political mentor Lopez Obrador, seeks "energy sovereignty" to stop importing motor fuels, though official numbers show this has not materialized.

(Reporting by Ana Isabel Martinez; Writing by Stefanie Eschenbacher; Editing by Mark Porter)

((Stefanie.Eschenbacher@thomsonreuters.com;))