Pemex to Ship 6 mln Barrels of Crude to Japan

Mexico's Pemex said on Friday it had agreed to ship six million barrels of its light crude to Japan's largest refinery over the next six months, as the state-run oil company seeks to further develop its ties with Asia.

 

The shipments of Isthmus crude will go via six cargoes between this August and January 2016 to JX Nippon Oil & Energy Corp. Pemex already shipped about 4 million barrels to JX Nippon in the first half of the year.

 

Pemex had been negotiating with buyers in Japan and South Korea earlier this year about the chloride content of its crude, and said it would offer discounts if the level of the chemical that can cause corrosion was higher than usual.

 

The crude will be shipped from Pemex's Salina Cruz terminal on the southern Pacific coast of Mexico. The company did not include pricing information in its announcement on Friday.

 

"These operations contribute to the strengthening of Mexico as an important supplier of crude to the Far East, the highest-growing region in the world," Pemex said in a statement.