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Category: Import

Mexico's Pemex poised to import light crude from U.S.

August 18, 2014 Posted by Chris Wysong

The U.S. oil boom is causing Mexicos state-owned oil company to rethink their stance on self-sufficiency. Mexico last imported crude in the late 1990s, but in this article from Reuters, David Alire Garcia and Noe Torres explain why Pemex is analyzing the option of importing light crude from the U.S. in an effort to generate more value from Mexicos six domestic refineries. Mexicos Pemex poised to import light crude from U.S. By: David Alire Garcia and Noe Torres Mexicos state-owned oil company, Pemex, is poised to abandon a decades-old devotion to self-sufficiency in crude oil, entering talks with U.S. companies about importing light crude from its northern neighbor, where output is booming. Chief Executive Emilio Lozoya said in an interview late on Thursday that Pemex was very likely to start importing light crude from the United States in the next few months, to generate more value from the Mexicos six domestic refineries. Lozoya said importing light crude from the United

Posted in Mexico, US, Crude, Import
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