Mexico submits proposal for crude swap with US

摘要

Houston—Mexico’s state oil company Pemex has presented a proposal to the US Department of Commerce’s Office of Safety and Industry for an exchange of crude between the two North American nations, a filing sent by the Mexican stock exchange, Grupo Bolsa Mexicana de Valores, showed Thursday. As part of this proposal, Mexico will import up to 100,000 b/d of light crude and condensate from the US with the intention of blending it with Mexican grades to improve the refining process at its refineries at Salamanca, Tula and Salina Cruz, which are configured for cracking. In exchange, Mexico will export heavy Mexican crudes to be processed at US refineries, which have coking conversion. This will not impact the committed amount of 803,000 b/d that were exported on average to the US in the past year, the filing said.