Mexico is targeting US West Coast refineries to boost sales of its flagship Maya crude. While Mexico has been a regular supplier of Maya oil to US Gulf Coast refineries, it hasn’t shipped any to the West Coast since February 2008, according to data from the US Energy Information Administration.
Petroleos Mexicanos, the state-controlled oil producer, took the first step in making Maya exports to the West Coast a reality by recently issuing an official price for November sales.
Pemex is looking for new destinations for its crude as exports rose to 1.26 million barrels of oil daily in August, the highest in 10 months, according to data from the Mexico Energy Information Agency. Shipments increased as low refinery utilization rates freed more supplies for international markets, said John Galante, a Senior Analyst at Boston-based ESAI (Energy Security Analysis Inc.) Energy. Pemex has yet to determine when the first cargo will be sent or the amount of crude.