Industry Segment: Market Brief | Word Count: 93 Words
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Despite the impact of the COVID-19 pandemic on fuel demand and refining margins, Mexico's Pemex is proceeding with its grassroot Dos Bocas refinery project. Pemex maintains the investment is necessary to reduce Mexico's dependence on refined product imports and to become self-reliant in gasoline production. The $8.1 billion project is one of only a few Latin American refining projects that have not been impacted by recent spending cuts.