- Blog
Have Another Swap of Mexican Crude - Will A New Route Open for U.S. Crude Exports?
In April officials from Mexican national oil company PEMEX expressed confidence that their January 2015 application to the Department of Commerce, Bureau of Industry and Security (BIS) for a license to export U.S. crude under a swap arrangement will soon be approved. The swap would involve Mexico importing U.S. light crude and U.S. refiners buying an equivalent volume of Mexican heavy crude. The transaction would bypass decades old U.S. crude oil export restrictions and indicate a further loosening of the rules after moves to allow condensate exports last summer. In today’s blog “Have Another Swap of Mexican Crude - Will A New Route Open for U.S. Crude Exports?” Sandy Fielden examines the proposed exchange.
