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CERAWEEK-Mexico to keep diverting heavy oil away from Gulf as refining ramps up, Pemex's PMI says

ReutersMar 11, 2025 1:26 PM

- Mexico's state-run Pemex will continue to divert barrels of heavy crude away from the U.S. Gulf of Mexico as its new Olmeca refinery ramps up output to reach full capacity in the coming year, the head of the company's trading arm PMI, Margarita Perez, said on Tuesday.

Perez spoke at the CERAWeek energy conference in Houston, where some oil companies operating in the country, including Harbour Energy HBR.L, showed optimism about fresh energy contracts to be offered soon for partnering with Pemex.

The contracts will bring fresh investment to the country, the Vice President of Harbour, Gustavo Baquero, said at the conference.

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