{"id":7989,"date":"2017-07-03T15:04:47","date_gmt":"2017-07-03T20:04:47","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=7989"},"modified":"2017-07-10T15:52:45","modified_gmt":"2017-07-10T20:52:45","slug":"exclusive-mexicos-pemex-sees-october-selection-of-refinery-coking-plant-partner-sources","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/exclusive-mexicos-pemex-sees-october-selection-of-refinery-coking-plant-partner-sources\/","title":{"rendered":"Exclusive: Mexico’s Pemex sees October selection of refinery coking plant partner – sources"},"content":{"rendered":"

Reuters<\/a> |<\/span>\u00a0<\/span>By\u00a0Ana Isabel Martinez<\/a><\/span>|\u00a0MEXICO CITY\u00a0<\/a>|\u00a0<\/span><\/span>Mon Jul 3, 2017 | 12:56pm EDT\u00a0<\/span><\/a><\/span><\/h4>\n

\"pemex-1024x679\"<\/a><\/span>“Mexican state oil company Pemex plans to choose a partner at the end of October to finish the development and operate a $2 billion coking plant at its Tula refinery, government and Pemex sources told Reuters.”<\/span><\/h4>\n

“Pemex is looking for partners to improve the performance of its state-owned refineries, which currently process about 915,000 bpd of crude, well below their combined capacity of 1.6 million bpd.”<\/span><\/h4>\n

“Pemex had previously planned to select a partner before June but the process has fallen behind schedule “because of the complexity and the investment needed,” said a separate industry source with direct knowledge of the project.”<\/span><\/h4>\n

“Since May, Pemex has invited 56 companies to bid but will not launch a tender as planned, a Pemex source said, calling the process “open, competitive and transparent.””<\/span><\/h4>\n

“Two years of sagging oil prices and mounting debt have forced the Mexican oil firm to seek equity partners to help fund key projects.”<\/span><\/h4>\n

“Asked about the partnership plan, a Pemex spokesman said the details provided by sources were correct.”<\/span><\/h4>\n

“Japan’s Mitsui & Co., Korea’s SK Group, Italy’s Eni, China’s PetroChina and Sinopec, British-Dutch Royal Dutch Shell Plc and U.S. oil major Chevron are among the companies interested in the project, sources told Reuters in April.”<\/span><\/h4>\n

“Pemex has hired Bank of America Merrill Lynch to help in the search for a partner, the Pemex source said.”<\/span><\/h4>\n

“Tula, like two other Pemex refineries, lacks coking capacity, which boosts production of higher-value fuels like gasoline from Mexico’s increasingly heavy crude production.”<\/span><\/h4>\n

“Interested companies are being asked to present their proposals by the third week of August and Pemex will draw up a shortlist by September, two Pemex sources said.”<\/span><\/h4>\n

“The final selection “will take place in the last week of October,” the first Pemex source said.”<\/span><\/h4>\n

“Tula is Pemex’s second largest refinery, with a capacity to process 315,000 barrels per day (bpd) but in May processed 228,126 bpd, company data showed.”<\/span><\/h4>\n

“The new plant will be located adjacent to Pemex’s existing Tula refinery, in the central state of Hidalgo.”<\/span><\/h4>\n

“In 2015, Pemex said it signed a contract with ICA Fluor for engineering, procurement and construction for an initial phase of projects to boost gasoline and diesel output and reduce fuel oil output by building a coking plant. Reuters was not able to confirm the status of the project with ICA Fluor, a joint venture between construction firm ICA and Fluor Corp.”<\/span><\/h4>\n

“In 2016, the state-owned oil company presented a business plan that included the “Tolling coker Tula Alliance” project, as well as partnerships to improve operations and\/or reconfigure the Tula, Salamanca and Salina Cruz refineries.”<\/span><\/h4>\n

Reuters<\/a> |<\/span>\u00a0<\/span>By\u00a0Ana Isabel Martinez<\/a><\/span>|\u00a0MEXICO CITY\u00a0<\/a>|\u00a0<\/span><\/span>Mon Jul 3, 2017 | 12:56pm EDT\u00a0<\/span><\/a><\/span><\/h4>\n

<\/h4>\n","protected":false},"excerpt":{"rendered":"

Reuters |\u00a0By\u00a0Ana Isabel Martinez|\u00a0MEXICO CITY\u00a0|\u00a0Mon Jul 3, 2017 | 12:56pm EDT\u00a0 “Mexican state oil company Pemex plans to choose a partner at the end of October to finish the development and operate a $2 billion coking plant at its Tula refinery, government and Pemex sources told Reuters.” “Pemex is looking for partners to improve the […]<\/p>\n","protected":false},"author":1,"featured_media":5870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[],"class_list":["post-7989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=7989"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/5870"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=7989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=7989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=7989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}