Mexico Set to Import More Fuel as Mega Refinery Startup Is Delayed

Mexico is scouring the U.S. and Asian fuel markets for more imports of gasoline and diesel in 2024 and 2025 as the country’s newest refinery is struggling to start up, several traders have told Reuters. The Olmeca refinery, also known as Dos Bocas, is a flagship project of outgoing Mexican President Andrés Manuel López Obrador, who sought to reduce Mexico’s dependence on fuel imports from the United States. The 340,000 barrels per day (bpd) refinery, however, has seen multiple delays and budget overruns and is…