& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




CERAWeek: BP will enter refined products midstream market but has no refining plans in Mexico



By Jeff Mower / Platts

Petroleumworld 03 13 2019

BP is planning on entering Mexico's refined products midstream market because of a shortage of pipelines and terminals, but has no refining plans in the country, Tufan Erginbilgic, chief executive of downstream at BP, said Tuesday.

"We would like to grow in Mexico, not only in retail but also in midstream, and invest in midstream as well," he said at the CERAWeek by IHS Markit conference.

However, "at this point, [they] don't have any consideration" in entering the refining sector in Mexico, he said on the sidelines of the conference.

According to a report from the Financial Times Tuesday, Mexico's deputy finance minister said the country's Dos Bocas refinery project was being put on hold, with funding for the plant instead moved to finance Mexico's upstream.

Mexican President Andres Manuel Lopez Obrador later said there was financing for the Dos Bocas project, according to the report.

The "refining project is still a good thing to do for the country," said Erginbilgic at CERAWeek. "Mexico is getting increasingly short" in refined products, he said.

"Mexico is growing and needs midstream investment," Erginbilgic said, adding that BP's midstream plans are "not against Pemex" but complementary.

Mexico is the fifth largest country in fuel volumes for BP, he said, and the second largest fuel retailer in the country, behind state-owned Pemex.

"Pemex will continue to be and always be our major supplier," he said.

Erginbilgic's comments followed news last week that BP plans to develop 10 refined products terminals within five years in Mexico, importing fuel from its refineries in the US Midwest, Texas and Washington state.



We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.


Story by Jeff Mower from Platts / SPGlobal.

- newsdesk@spglobal.com

03 12

Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.