Pemex to spend $5.5B on plant upgrades and pipeline

Pemex plans to invest nearly $5.5 billion in expanding Mexico’s largest natural gas pipeline, building a fertilizer plant, and boosting output of cleaner-burning gasoline and diesel, according to Reuters.

The Reuters report stated that Pemex plans to spend $2.5 billion on the second phase of the Los Ramones pipeline, which will eventually run from the U.S.-Mexico border to central Mexico. The company will also invest $2.8 billion on upgrading five of its six refineries to process cleaner fuel, as well as $184 million on a fertilizer plant.

Reuters noted that Pemex expects to have ultra-low-sulfur diesel plants in production toward the end of 2017, and that the company plans to produce 360,000 barrels per day of cleaner-burning gasoline and diesel.

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