Carlos Navarro

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The state-run oil company PEMEX is exploring the possibility of acquiring a partial or full share of at least one refinery in the US to increase its processing capacity and boost the domestic supply of gasoline. The move would complement the government's plan to construct the Refinería Bicentenario in Hidalgo state. The refinery, which would have the capacity to process 250,000 barrels per day, had originally been planned to begin operations in 2015, but PEMEX has deferred construction of the facility and has given no clear explanation for the delay. The company has had some internal conversations about acquiring refinery capacity in the US, but the proposal became public in early March when PEMEX director Juan José Suárez Coppel mentioned the possibility in an interview with Bloomberg news service. This would be an important strategic move for PEMEX, which is looking to acquire "significant" refining assets in the US, said Suárez Coppel.