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Petróleos Mexicanos (Pemex) has allocated four shipments of 350,000 barrels each for the import of Bakken Light Crude Oil, which will be delivered during the month of November. This is the first time that the state of an oil producing country exporting more than one million barrels a day is currently buying crude oil abroad beyond environmental emergencies.
The state oil company explained that it had evaluated various proposals for the supply of light crude oil shipments, in accordance with the parameters defined by Pemex Transformación Industrial, so that they contain the quality necessary for the national refining process. Crude oil of this type comes from shale formations in North Dakota, according to the Energy Information Administration of the northern neighbor.
Currently, the corresponding contracts are being signed. The details of the mission will be communicated at the end of the procedure executed by the commercial subsidiary of the oil company, Petróleos Mexicanos Internacional (PMI).
"This decision is part of the strategy of improving the oil regime used in the national refining system, which will allow to obtain distilled products of greater economic value, such as oil and gas. gasoline and diesel, "said Pemex.
Carlos Treviño Medina, CEO of Pemex, explained late September that "with regard to the end of the year of operation, especially in the production of crude oil, the invasion of Water in the Tabasco Litoral's Xanab project will result in the extraction of hydrocarbons are well below the set target of 1 915 million barrels of crude oil per day.
Therefore, to comply with the treatment plans of the national refining system, light crude oil would be imported from the US Gulf Coast, probably via the Pacific.
"It will not be an exchange, it will be the full purchase," he explained. This transaction is legally possible in the United States – where it is prohibited to export crude oil – after two years ago, heavy crude oil traded from Mexico had been agreed for refineries in the US Gulf, against light crude destined for Mexican refining.
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