December 22, 2017 / 12:48 AM / a year ago

Mexico oil regulator expects to give Trafigura contract for crude trading

MEXICO CITY, Dec 21 (Reuters) - Mexico’s oil regulator is expected to assign oil trader Trafigura a three-year contract to commercialize crude the government obtains from the new scheme of contracts derived from an energy reform, the national regulator said on Thursday.

Until now, PMI, the commercial arm of Mexico’s state oil firm Pemex, has been the only company that commercializes the government’s hydrocarbons. But the 2014 energy reform mandated that, starting next year, companies should compete to commercialize the oil and gas that the state obtains under new production sharing contracts.

It was not immediately clear how much petroleum comes under the deal, but only a few thousand barrels per day are currently being produced under the contracts.

Swiss-based Trafigura will commercialize petroleum and the state-run Federal Commission of Electricity will commercialize gas, the National Hydrocarbons Commission said in a statement seen by Reuters. (Reporting by Adriana Barrera; writing by Julia Love)

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