Pemex Could Help Offset America’s China Oil Woes — Panjiva


Pemex Could Help Offset America’s China Oil Woes

Energy - Conventional 272 Energy - Crude Oil 194 Mexico 505 U.S. 3297

The CEO of Pemex, Carlos Trevino, has indicated the firm will start importing U.S. crude oil to Mexico for the first time in October. That comes as the incoming Mexican government is looking to increase domestic hydrocarbon production. That’s designed to offset a 45% surge in energy imports in the three months to August 31 that resulted in a $45 billion energy import bill. Increased shipments to Mexico will help offset the potential loss of Chinese customers which took 24% of U.S. crude oil exports in the 12 months to July 31.

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