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OPEC congratulates Mexico for investing in the Dos Bocas Refinery

Inspenet, March 16, 2023

Haitham Al-Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), congratulated the Government of Mexico for its vision in investing to expand refining capacity at the Olmeca Refinery in Dos Bocas.

The Secretary of Energy, Rocío Nahle García, received Haitham Al-Ghais, Secretary General of OPEC, at the Secretary of Energy (SENER), with whom she led the keynote conference “World Oil Market”.

The person in charge of Mexico’s energy policy maintained that the visit of the OPEC Secretary General is emblematic, derived from the role that Mexico has had for 85 years in the oil market; He also added that, although since the founding of this Organization the Mexican nation has always been in permanent dialogue, it was not until December 2016 that Mexico formally entered the so-called OPEC+ as a partner.

For his part, Haitham Al-Ghais, Secretary General of the Organization of the Petroleum Exporting Countries, stressed that the OPEC countries have historical elements with Mexico, in addition to the fact that it is a key member of the Organization, since it has been a player critical for the market and recognized the country for joining forces to give life to the new oil market that was destroyed with the arrival of the pandemic.

He highlighted that, during his meeting with the President of Mexico, Andrés Manuel López Obrador, they spoke about the importance of ensuring self-sufficiency, which is part of achieving energy security, and he also congratulated the Mexican Government for the vision they have of investing to have the capacity to refining with the Olmeca Refinery in Dos Bocas.

On the other hand, the Secretary General of OPEC explained that the oil industry plays a very important role in the future, given that, until 2045, the global primary energy demand will grow by 23%; the size of the world economy will double and the size of the population will increase from 8 billion to almost 20 billion, that is to say, all this demand cannot be met with only one source of energy, therefore it requires all energy sources to complement.

Likewise, he pointed out that oil by 2045 still represents 30% of the energy mix, which means that the producing countries, including Mexico, have a very important task.

Finally, the Secretary General of OPEC stressed that in the future 110 million barrels per day will be required and maintained that the oil industry in Mexico has a lot of capacity to invest in refining.

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