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MEXICO CITY (AP) — The office of Mexican President Andrés Manuel López Obrador said Friday that the country’s new Gulf coast refinery is “a dream come true.”

López Obrador “inaugurated” the partially finished Olmeca refinery in Dos Bocas, a city in his home state of Tabasco.

The project, when finished, is expected to cost as much as $12 billion, well above original estimates of $9 billion.

In 2021, Mexico agreed to buy Shell’s 50% share in the jointly owned Deer Park refinery near Houston, Texas for about $600 million. The two refineries would have similar capacities, leading to questions about the much larger investment in building a new refinery.

The new refinery is part of López Obrador’s startegy of making Mexico self-sufficient in gasoline, which it has long imported. He noted Mexico had not built a new refinery since the 1970s.

The eventual opening of the plant comes as many energy companies are trying to exit the historically low-margin refining businesses, as demand for renewable energy increases.

“We did not pay attention to the song of the sirens, the voices that predicted, perhaps in good faith, that the oil era was over, and that electric cars and renewable energy was arriving massively,” López Obrador said.

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‘Whoring ourselves out’ – Man Utd legend Rio Ferdinand slaughters club chiefs over Frenkie de Jong transfer chase

RIO FERDINAND has accused Manchester United of "whoring" themselves out to try and sign Frenkie de Jong.

Erik ten Hag made signing the midfielder one of his top priorities after replacing Ole Gunnar Solskajer as manager but has been snubbed by the Barcelona ace.

3Manchester United have already been snubbed by Barcelona ace Erik ten HagCredit: GETTY 3But new Red Devils boss Erik ten Hag is refusing to give up on signing the midfielderCredit: GETTY 3United's pursuit of the Dutchman has embarrassed club legend Rio FerdinandCredit: GETTY

But former Ajax boss is refusing to give up signing on his fellow Dutchman, much to the frustration of Red Devils legend Rio Ferdinand.

Ferdinand said on his Vibe with Five podcast: "We're almost whoring ourselves out for this player.

"For three months in the transfer window, with our cap out begging, "please come to us, please come to us."

De Jong, 25, is determined to stay at Barca to re-coup the wages he slashed during the height of the pandemic.

READ MORE IN SPORTTRANSFER NEWS PSG eye Rashford, Man Utd and Chelsea in Frenkie de Jong battle

But United's Premier League rivals Chelsea are also interested in signing the Netherlands international.

Ten Hag's nightmare start to life at The Theatre of Dreams continued on Saturday as his troops were battered 4-0 by Brentford.

United are currently ROCK BOTTOM of the Premier League table having conceded six goals in their first two matches.

Ferdinand said of the defeat: "I don't feel sorry for the players, I feel sorry for Ten Hag.


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"He's coming under false pretences. He's coming expected new signings.

"He's probably sitting there thinking "I've been sold a dummy here. I didn't know I was coming into this". Confidence, I know, was going to be low.

"He knew that but he thought "I'll be able to rebuild that," but obviously the players are not at the standard required. Simple as that.

'Some of the players will sit there and go "that's out of order, you can't talk," - it's a fact! The results tell you that.

"This isn't a result over a month or two, this is a result over a long sustained amount of time.

"You've had ample time to kind of lose form and build it back up again and come back and show us your true selves. It ain't happening."

United will look to get back to winning ways a week on Monday when they welcome title-chasing Liverpool to Old Trafford.


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