Pemex allocates $3bn to investment in cogeneration for oil refineries

Mexico‘s state-owned oil giant, Petroleos Mexicanos (Pemex) plans to spend heavily on cogeneration power plants to serve its oil refineries as part of an overall strategy aimed at reducing carbon dioxide emissions.
$3bn in planned investments will cover electricity cogeneration projects already under way at the company’s Tula and Salina Cruz refineries, the 275,000-b/d Hector R. Lara Sosa refining complex in Cadereyta, Nueva Leon, and the Cactus gas processing complex in Chiapas state.

The company recently created a new subsidiary called PMX Cogeneracion, SAPI de CV to help build cogenerationà‚ power plants at its oil refineries.

The cogeneration aspect is part of an overall spend of $23bn in downstream projects which would enable a 7 million-tonne/year reduction in Mexico’s carbon dioxide emissions.

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