Gulf Refiners Shun “Watery” Pemex Crude

By Irina Slav – OilPrice.com

Refiners on the Gulf Coast are shunning crude oil cargos from Mexico that feature an excessively high water content that makes the feedstock unfit for the production of gasoline and diesel fuel, Bloomberg has reported.

Instead, refiners are buying more Colombian and Canadian crude, or asking for discounts on the Pemex cargos, unnamed industry sources told the publication. According to them, Mexico’s flagship Maya crude has a water content of as much as 6%, which is six times higher than the industry standard.