PEMEX Evaluates Options of Investing $1.5 Billion to Upgrade Refinery in Mexico

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Researched by Industrial Info Resources (Sugar Land, Texas). PEMEX (Petroleos Mexicanos) (Mexico City, Mexico) is evaluating options to invest $1.5 billion to convert its existing 330,000-barrel per day Salina Cruz refinery to process additional volumes of heavy crude oil. The conversion project will not increase capacity, but will involve constructing new units and modifications of existing units such as adding an atmospheric crude and vacuum unit, adding a 50,000-barrel per day delayed coker unit, adding a 25,000-barrel per day vacuum gas oil hydrotreater, adding a 25,000-barrel per day coker naphtha hydrotreater, a sulfur recovery unit, a hydrogen unit, an alkylation unit, an isomerization unit, and a reformer. Currently, KBC Advance Technologies, Incorporated (Parsippany, New Jersey) is performing consulting services for the project. The study is expected to be finished around the end of 2006. Once complete, PEMEX expects to select an engineering, procurement, and construction contractor to commence construction of the project in late 2008, with startup planned for early 2011.

PEMEX is a state-owned refinery that has been operating since 1938. The company has revenues of about $77 billion and currently has an estimated 138,000 employees. PEMEX has six refineries, which are located in Tula, Salamanca, Cadereyta, Madero, Minatitlan, and Salina Cruz, with a total production capacity of 1.6 million barrels per day that engages in exploration, production, refining, transportation, storage, distribution, and sales of oil and natural gas. The company is the largest Latin American petroleum corporation and a major world exporter of fossil fuels.

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