Mexican regulator approves construction of Pemex oil refinery, with conditions

FILE PHOTO: A sign of state-owned company Petroleos Mexicanos (PEMEX) is seen at a gas station in Monterrey, Mexico June 17, 2019. REUTERS/Daniel Becerril/File Photo

MEXICO CITY (Reuters) – Mexico’s oil industry environmental regulator said on Monday it had approved the construction of a refinery for state oil company Pemex, but imposed conditions to mitigate the environmental impact of the $8 billion project.

Mexican President Andres Manuel Lopez Obrador has said he aims to build the facility in the southern state of Tabasco by 2022 and use it to help rescue Pemex, which is the world’s most indebted oil company.

Reporting by Adriana Barrera and Daina Beth Solomon; Editing by Sandra Maler

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