Mexican President Andres Manuel Lopez Obrador on Tuesday contradicted an undersecretary who suggested that a controversial refinery project will be delayed, saying construction remains on schedule.
Deputy Finance Minister Arturo Herrera told the Financial Times in an interview published on Tuesday that construction of the Dos Bocas refinery in Tabasco, which many analysts see as a poor use of money, will be delayed, with the $2.5 billion designated for it in this year’s budget used to boost exploration and production at state-owned oil company Petroleos Mexicanos instead.
Lopez Obrador, asked hours later about Herrera’s comments during his daily news conference, said his government plans to move ahead on the project, and that Mexico can pay for both a refinery and investment in Pemex. The refinery tender probably will be announced on March 18, a holiday which marks Mexico’s 1938 oil expropriation, he said.