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Mexico's Pemex eyeing crude imports to boost output

Monday, March 17, 2014


Mexico's Pemex is considering crude imports to boost local refinery output, but at the same time, it expects to sell more oil to India and Japan to diversify its export markets.

The state-owned company could begin imports of light and intermediate crudes as early as this year to improve production of higher-value refined products like gasoline, Jose Manuel Carrera, chief executive officer of its P.M.I. Comercio Internacional oil trading arm, said.

Mexico, the world's 10th-largest crude oil producer, has very rarely imported the commodity, instead preferring a decades-long self-sufficiency.

Source: Reuters