UPDATE 2-Diesel, gasoline output at Mexico's Dos Bocas to hit 'full capacity' in March -Pemex

(Adds detail on Deer Park facility in paragraphs 6-7)

MEXICO CITY, Jan 20 (Reuters) - Commercial production of diesel and gasoline at Mexico's Olmeca refinery in Dos Bocas should reach "full capacity" by the end of March, the chief executive of state oil firm Pemex said on Saturday, marking a pipeline months behind schedule.

"In a few weeks this great refinery will enter commercial production," CEO Octavio Romero said in a video posted on X from the plant on the southern Gulf coast, adding the refinery would begin producing diesel and then move onto regular gasoline.

Dos Bocas is expected to process 340,000 barrels per day (bpd) at full capacity. It marks a key pillar of the policies of President Andres Manuel Lopez Obrador who pledged to achieve fuel self-sufficiency by 2024, his last year in office.

The refinery had been set to be fully operational by December last year and has more than doubled its initial price estimate of $8 billion.

Heavily-indebted Pemex has also purchased a refinery in Texas and is building two coker plants, though it continues to import large quantities of gasoline and diesel.

In the video, Romero added that in the two years since Pemex bought the Texas

Deer Park

refinery from Shell, the results have been "excellent."

"The refinery was paid for in the first year, with the profits that year we practically recovered what it had cost us and another year's profit," Romero said.

(Reporting by Raul Cortes and Ana Isabel Martinez; Writing by Sarah Morland; Editing by Nick Zieminski)