UPDATE 4-Pemex receives U.S. oil swap license, but for less than planned

miércoles 28 de octubre de 2015 17:28 GYT
 

(Adds details on crude swap from Pemex and oil traders)

By Ana Isabel Martinez

MEXICO CITY Oct 28 (Reuters) - State oil firm Pemex said on Wednesday it had received a license from the United States to import U.S. light crude in exchange for exports of Mexico's heavier crude oil for the first time, albeit with a lower ceiling than originally planned.

The terms of the year-long license will allow Pemex's commercial arm, P.M.I. Comercio Internacional, to import U.S. light crude to process in its refineries from October, with the limit capped at 75,000 barrels per day (bpd).

Pemex will initially receive conventional U.S. light crudes as part of the swap and later shipments could carry shale crudes as well.

A Pemex spokesman said the decision to cut the original plan to import up to 100,000 barrels per day was made in accordance with the company's present needs at its refineries.

The first U.S. shipment would arrive in Mexico from the first half of November, he said.

"The permit is for 75,000 (bpd) because that's what we asked for," he said. "They gave us permission for 75,000 (bpd) for one year, but when that year ends, we can ask for more or less, whatever we need."

The spokesman said it was not a like-for-like deal, and that Mexico was not obliged to export an additional 75,000 bpd to the United States.   Continuación...