West Coast for first time since 2008
West Coast refiners, the head cheap canada goose uk of the state oil company international trading arm said on Thursday. West Coast, with most, if not all of it, destined for California, Isaac Volin, chief executive of canada goose uk outlet PMI Comercio Internacional, said in an Canada Goose online interview.
The company plans to canada goose clearance ship an average of 30,000 barrels per day (bpd) of canada goose clearance sale Maya crude and 50,000 bpd of Isthmus crude over the course Canada Goose Outlet of 2017, he said.
The company sold spot shipments late last year to a Royal Dutch Shell refinery in California. But Volin said he wants to eventually enter into longer term contracts canada goose factory sale with West Coast clients later in the year. He declined to name Canada Goose Jackets specific buyers. administration imposed a canada goose black friday sale new border tax. President elect Donald Trump is considering taxing imports to protect American jobs and wages. While his specific plans are unclear, canada goose store his comments have worried refiners that depend on crude imports between the two neighbors. Gulf Coast refiners, shipping more oil to Asian markets in recent years.
Volin said Pemex will export the crude from a recently remodeled terminal adjacent to its Salina Cruz refinery on the Pacific coast, lessening dependence on its export hubs clustered in the Gulf of Mexico, especially when they are hit buy canada goose jacket cheap by bad weather.
While crude export revenue once contributed as much as 40 percent of government revenue, that figure has dropped by less than half as oil prices have cheap Canada Goose slumped over the past couple years.
thing we Canada Goose Online noted during 2016 canada goose is that it has become more attractive to export our crude to the West Coast of the United States than send it to other markets, like Europe, said Volin, a former head of BlackRock Mexico.
Pemex European markets are saturated with crudes from the jacketstock Middle East and the price it is paid in the West Coast, after discounting freight costs, is higher, he added.
The new uk canada goose outlet West Coast shipments began in late November with 23,000 barrels of crude, Volin said, noting that the buyer of a subsequent December spot shipment paid $1.45 more per barrel than European buyers would Canada Goose Parka have.
Pemex sold both spot shipments to Royal Dutch Shell Martinez refinery near San Francisco, California, canada goose uk black friday according to data from Thomson Reuters Eikon.
Due to Pemex sending buy canada goose jacket more crude to its domestic refineries for processing, total crude exports in 2017 are likely to average between 1 million and 1.1 million bpd, Volin said, down from just over 1.2 million bpd last year. suppliers hit a record in 2016 as Mexico six domestic refineries processed much less crude, which has prompted some analysts to forecast more growth in gasoline and diesel purchases in 2017.
Volin, however, said Pemex expected to import less fuel this year than in 2016.
Gasoline imports are expected to dip to around 400,000 bpd, down canada goose uk shop some 17 percent, while diesel imports will fall to about 130,000 bpd, down nearly 30 percent from 2016, according to Volin.
The executive said the drop in fuel imports will begin after March.
Mexico is undergoing a gradual canada goose outlet gasoline price liberalization, part of a landmark 2014 energy canada goose coats on sale overhaul, which caused fuel prices to spike by double digits on uk canada goose Jan. 1.
The canada goose coats price spike, known locally as a has led to angry protests across the country over the past couple canadian goose jacket weeks, including highway blockades and looting of gas stations. crude might be imported, and Pemex Canada Goose sale Industrial Transformation unit, which runs its refineries, has yet to submit a formal request, Volin Canada Goose Coats On Sale said. (Reporting by David Alire Garcia; Editing by Lisa Shumaker and Richard Chang).
