Pemex looks to optimise refining

Pemex Transformación Industrial (TRI), the Mexican NOC’s refining arm, is in talks with other oil companies to swap some of its heavy Maya crude for lighter, sweeter varieties in an attempt to optimise refining, international media reported Monday.

“We are looking at different options and we are looking for crudes that may be a bit more similar to medium or light crudes and that are sweet,” said TRI general director Carlos Murrieta Cummings, speaking to Reuters.

An exchange will allow Pemex to boost capacity and efficiency at several refineries, which together were working at just 57% of capacity during H1 2017. The company would then be able to reduce petrol imports to around 500,000 bpd.

Murrieta did not provide details regarding how much crude the company is expecting to swap, or when.

Pemex attempted to set up a similar arrangement in 2015, but was unsuccessful due to higher oil prices and restrictions on the export of US crude. That ban has since been lifted.

Murrieta also said the NOC would select a partner at the Tula refinery for its delayed coker unit, and that it was considering a plan to farm out the Salina Cruz refinery in 2017 or 2018.