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Dos Bocas inaugurated between uncertainty and ‘opacity’ – El Financiero

The first stage of ‘Olmec’ refinery located in the port of two mouthsTabasco, will be inaugurated this Friday by the president Andres Manuel Lopez Obradoralthough it is not clear what will be presented and how long it will take before refining oil begins, specialists consulted by The financial.

“We do not know what is going to be inaugurated, Pemex has not issued any report in this regard, not even to the Securities and Exchange Commission of the United States (SEC, for its acronym in English) which would be the only serious regulator that supervises it, and if with the SEC there is transparency, despite the fact that they are very demanding, because what can be expected from the others”, said Rosanety Barrios, a specialist in the energy sector.

Oscar Ocampo, energy coordinator of the Mexican Institute for Competitiveness (IMCO), added that despite the fact that they have followed the construction of the refinery ‘with a magnifying glass’, It is not known what is going to be inaugurated or when it will operate.

“Such elementary questions, but which have not been made public, we are going to see a ribbon cutting and a government report, but we do not know what is behind it, and this is very worrying since it is one of the priority projects of this administration” , he pointed.

For Arturo Carranza, an expert in energy matters, this Friday only political messages will be seensince he considers that the current administration prioritizes this type of announcement over technical ones.

“We know that it has been a questionable project, both because of cost overruns and even because of the usefulness of the project, which, by the way, is going to have a very short useful life in the face of the energy transition,” he said.

According to experts, the refinery would be operating until the next administration.

point out opacity

Gonzalo Monroy, a consultant on energy issues, assured that the cost overruns of the workthe direct assignment of contracts and the use of Pemex subsidiaries makes it difficult to Accountability in Dos Bocasand asserts that the work is built as a “monument to opacity” that obeys political and not technical dictates.


“To add more layers of opacity, the government used Pemex subsidiaries in which it is not so easy to obtain their evaluation or even supervision from the point of view of public accounts, it is not so simple,” said the expert.

In this context, one of the great flaws of this inauguration is the opacity and lack of transparency that surrounds this great worksince the ‘Olmeca’ refinery is developed by PTI Infraestructura de Desarrollo, a subsidiary company of Pemex.

“Subsidiaries, unlike subsidiaries, operate under private law, so they do not have the same transparency and contracting obligations,” the Mexican Institute for Competitiveness (IMCO) detailed in a note.

Bernardo Cortés, a partner at the firm Cortés Quesada Abogados, added that all the project was carried out as if it were carried out by any private company dedicated to the oil sectorand not to a state oil company.

“The fact that a subsidiary of Pemex carried out its development was the way to find a legal basis to turn the issue of public tenders a bit and be able to assign contracts directly or under restricted invitation mechanisms, a maneuver that it saved them time,” he said.

On the other hand, Susana Cazorla, former head of advisers to the president of the Energy Regulatory Commission (CRE), specified that the demand for gasoline will not be covered with the start-up of Dos Bocas because Mexico does not have enough crude to process.

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