Pemex to continue auction without CFE

MEXICO CITY, May 16, 2018 – Mexican NOC Pemex has said it will continue with an FSRU auction after the withdrawal of the Federal Electricity Commission (CFE), international media reported Tuesday.

Through the auction, Pemex also plans to secure LNG supplies. The NOC was a partner of the CFE for the project, but will go on with the auction through its subsidiary, Mex Gas Supply, according to a Pemex official.

Due to several delays, the auction is now expected to be held in December 2018.

In other Pemex news, international media reported on Wednesday that the NOC is planning to test US and other foreign-sourced light crudes as early as July for possible import. The company aims to raise margins for its domestic refining network, which is operating at 48% capacity.

Mexico is a long-time crude exporter and has mostly processed domestic crude in-country.

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