Mexico's Pemex to start exporting Olmeca crude to Europe in February

MEXICO OIL

A view of Mexican state oil company Petroleos Mexicanos' corporate tower in Mexico City. Pemex says it will not begin exporting high-quality Olmeca crude to Europe until the second half of February. Pemex had said in a statement on Jan. 6 that exports of that extra-light variety would begin in January, but it announced Thursday on Twitter that the start date had been pushed back. EFE/File
A view of Mexican state oil company Petroleos Mexicanos' corporate tower in Mexico City. Pemex says it will not begin exporting high-quality Olmeca crude to Europe until the second half of February. Pemex had said in a statement on Jan. 6 that exports of that extra-light variety would begin in January, but it announced Thursday on Twitter that the start date had been pushed back. EFE/File

— Mexican stateowned oil company Petroleos Mexicanos says it will not begin exporting highquality Olmeca crude to Europe until the second half of February.

Pemex had said in a statement on Jan. 6 that exports of that extralight variety would begin in January, but it announced Thursday on Twitter that the start date had been pushed back.

The company added that the first shipment to Europe would be sent to the Cressier refinery in Switzerland.

"In this way, PMI Comercio Internacional (Pemex's international oil trading arm) is fulfilling (the goal of) diversifying commercially and entering alternate markets," the company said in one of its tweets.

Pemex said previously that since it began exporting Olmeca in 1989 its main market has been the U.S. Gulf Coast refinery system, with smaller but regular shipments of that crude variety to the Dominican Republic.

 
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