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Mexico oil regulator gives Trafigura contract for crude oil trading

Gasoil News - Published on Tue, 26 Dec 2017

Image Source: Reuters
Reuters quoted Mexico's oil regulator as saying that it had assigned trader Trafigura a three-year contract to commercialize crude oil the government obtains from the new scheme of contracts derived from an energy reform. Until now, PMI, the commercial arm of Mexican state oil firm Pemex, has been the only company that commercializes the government's hydrocarbons.

But the 2014 energy reform mandated that, starting next year, companies should compete to commercialize the oil and gas that the state obtains under new production-sharing contracts.

It was not immediately clear how much petroleum comes under the deal, but only a few thousand barrels per day are currently being produced under the contracts.

Swiss-based Trafigura will commercialize petroleum and the state-run Federal Commission of Electricity will commercialize gas, the National Hydrocarbons Commission said in a statement seen by Reuters.

The regulator said in a statement that Trafigura offered to do the work for 18 cents per barrel, compared with 21 cents per barrel for PMI.

The regulator said it assigned the contract to Trafigura directly because the Swiss firm and PMI were the only firms that participated in the previous tender.

Source :

Posted By : Rabi Wangkhem on Tue, 26 Dec 2017
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