Mexico's newest refinery is on track to reach full capacity by September 2023. MarketCheese

Mexico's largest refinery, owned by Pemex, is likely to reach half of its production capacity by July 2023, according to Mexico's President. This statement marked another shift in the project's timing. 

The Olmeca oil refinery, being built near the port of Dos Bocas, will be the eighth Pemex facility put into operation. This launch is a key point in the plan of Mexican President Andres Manuel Lopez Obrador. Earlier, the official stressed the need to reduce the country's dependence on petroleum imports, particularly from the United States. In this way, Mexico is going to ensure its own production of gasoline and diesel. 

The plan called for the refinery to start operating at full capacity by September 15, 2023, the day before Mexican Independence Day, as Lopez Obrador posted on Twitter. The total capacity is expected to be 340,000 barrels per day, while gasoline and diesel production is likely to hit 280,000 barrels per day.