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Mexico to partner with RIL to develop refinery – but no JV option

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    basil parmesan
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    Mexico to partner with RIL to develop refinery
    STAFF WRITER  Chandra Shekhar

    Mexico City, June 27, 2010 (PTI) The Mexican government may seek to ink a deal with India’s private sector petroleum giant Reliance Industries Limited (RIL) to develop a greenfield refinery here.

    “We will look at RIL’s refinery when we visit India. We want to develop a new refinery with a capacity of 300,000 barrels per day,” Mexican Energy Secretary Georgina Kessel told reporters here.

    Reliance could provide services for the proposed refinery, to be developed by Mexican state-owned petroleum company Pemex, she said.

    “However, there would be no joint venture with RIL as the law does not permit that,” Kessel added.

    Without specifying a date, the Energy Secretary said that she would be touring India soon to meet energy sector ministers, besides visiting RIL facilities.

    To the possibility of Indian companies exploring oil and gas reserves in Mexico, she replied in the negative.

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