With its revised formula for Maya crude, Pemex may have replaced volatility in high sulfur fuel oil with swings in sweet-sour spreads as the main challenge in setting its monthly Official Selling Price for its crude exports, reports Platts.
IMO 2020 Sulphur capWith the IMO’s 0.5% cap on sulfur for marine fuels fast approaching, Mexico’s state-owned oil company was under pressure to revise its long-standing crude formula to reduce exposure to refined products with falling demand.
The legacy Maya...
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