Mexico Ships More Heavy Crude as Lighter Grades Vanish
(Bloomberg) -- Petroleos Mexicanos’ oil production, set for its 14th year of consecutive declines amid aging fields and under-investment, is hitting exports of lighter grades like Olmeca and Isthmus. Pemex, as the Mexican state oil company is known, hasn’t exported Olmeca since August last year or Isthmus since May. Instead, Mexico is sending more of the heavy stuff that’s easier to produce -- Altamira and Talam.
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