A company director stated on Monday that the trading arm of Mexico’s state company Pemex (PMI) anticipates a decrease in crude oil exported this year, as more will go to local refineries and especially the new Olmeca Refinery.

Margarita Perez said that once the country's new refinery is fully functional and capable of processing 340,000 barrels of crude oil per day (bpd), the company will receive approximately 100,000 bpd.

She added that this would increase local processing to about 1.2 million bpd and leave around 400,000 bpd available for export.

Perez, without revealing any details, said: "We have already exported diesel from Dos Bocas, because production has started."

In April, it was reported that due to a lack in infrastructure, two tankers containing ultra-low sulfur fuel, which had been produced by the Madero refinery from crude oil but reprocessed at the Olmeca refining plant, were exported. (Reporting and writing by Adriana Barera; editing by Kylie Madry).

(source: Reuters)