* Mexico’s state-owned oil firm, Pemex, has produced a new report forecasting that it will significantly reduce its exports of Olmeca and Istmo light crude blends this year. According the Pemex report, it is expected that most of its Olmeca and Istmo production will be destined to the domestic market this year in order to meet growing demand. Indeed, the Pemex report forecasts that its Istmo production might fall short of domestic demand and that the firm will have to import around 22.6m barrels of an equivalent blend. Last year Pemex exported an average of 18,944 barrels a day of Olmeca crude and 85,783 barrels a day of Istmo crude worth some US$2bn.
End of preview - This article contains approximately 116 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options