Mexico State Oil

[Blackbag99 + 20]

I read a piece that Mexico state oil was planning on importing more lights and reducing sour exports, refining it's own products.

Mexican sour has had a big market in the US, especially since shale revolution.

Does anyone have any opinion on how this effects US crude?

It's worth noting that a large % of US net import reduction comes from finished products.

Open topic, really just trying to get my head around the change.

[J. Salazar + 1]

Can you send me a link to that article? I had not kept up too much with Mexico in the last year but I need to read up on this.

[CMOP + 227]

41 minutes ago, J. Salazar said:

Can you send me a link to that article? I had not kept up too much with Mexico in the last year but I need to read up on this.

https://www.reuters.com/article/us-mexico-pemex-exports/mexicos-state-run-pemex-pauses-light-crude-exports-data-source-idUSKCN1LF2SH

Here's another great article that we released a couple months ago 

https://oilprice.com/Energy/Energy-General/Why-Mexicos-Oil-Production-Could-Fall-Even-Further.html

[Blackbag99 + 20]

On 10/2/2018 at 3:30 PM, J. Salazar said:

Can you send me a link to that article? I had not kept up too much with Mexico in the last year but I need to read up on this.

I did have a quick look, I read quite a bit of news from multiple sources.

The thrust of the article was that Pemex were going to miss production targets and that they were switching to downstream. Exporting less, importing more Lights and refining themselves.

I am not sure how important that would be to the US industry, but they are net exporter of finished products to Mexico.

[AFR + 2]

PEMEX, the national oil state company is planning to import around 100K barrels of lights in order to relaunch the local refinning production. Import of gasolines is increasing dramatically