Mexico starts oil deliveries to Europe

On Monday Mexican state-run oil company Pemex announced beginning of oil export to Europe to diversify export and strengthen positions at the world market of energy carriers.

The company reported that the deliveries of Olmeca light oil will begin in January 2014. It was earlier delivered to the US oil refineries and insufficient volume to the Dominican Republic.

Pemex branch PMI Comercio Internacional will be in charge of the deliveries to Europe. The volume of deliveries is yet to be specified.

At the end of December 2013 Mexico adopted the energy field reform. During the reform Pemex, which is being under control of the government since 1938, will get the right to conclude contracts with the private companies and attract private investments.

According to Pemex’s estimates, after the reform the oil production will be increased from the current 2.5 million up to 3 million barrels a day by 2018 and gas production will be doubled from the current 175.5 million cub.m. a day.

ANN.A