August 14, 2017 / 5:43 PM / a year ago

Novum completes first sale of imported diesel to Mexican retailer

MEXICO CITY, Aug 14 (Reuters) - U.S.-based trading firm Novum Energy has completed its first sale of imported ultra-low sulfur diesel to a fuel retailer based in Mexico, the company said on Monday.

Mexican state-run oil company Petróleos Mexicanos, known as Pemex, is in charge of almost all fuel imports into the Latin American country. An energy reform now allows traders, distributors and retailers to complete their own purchases from producing countries such as the United States.

The buyer of the diesel was Mexico-based fuel retailer Grupo Energeticos, a unit of PetroFE Gasolineras based in Tamaulipas, Novum Energy said in a statement.

PetroFe Gasolineras owns a network of 38 gas stations in Mexico that are not Pemex branded. Analysts expect some U.S. refiners and retailers including Valero Energy and Tesoro Corp to negotiate with these kind of stations to expand rapidly in Mexico’s fuel market.

Reporting by Marianna Parraga; Editing by Richard Chang

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