Mexico Crude Oil Swaps Not Likely To Affect Export Ban
Lawrence G. Acker On August 14, 2015, the Obama administration announced that it would approve a number of crude oil “swaps” with Mexico. Pursuant to this approval, Mexico’s state-owned oil company, Petroleos Mexicanos (Pemex), will be able to exchange its heavy Maya crude for lighter U.S. crude and condensate, a move previously prohibited under the 40-year-old U.S. crude oil export ban. Although this is not the first oil swap to be approved with Mexico, this most recent approval comes as calls...
To view the full article, register now.