Mexican Oil Swaps Spurs Calls for Full US Exports

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USA production groups said a decision to swap crude oil with Mexico is a much needed step toward a full easing of the ban on domestic oil exports.
The U.S. Commerce Department last week granted a request from Mexican energy company Petroleos Mexicanos, known also as Pemex, to swap as much as 100,000 barrels of U.S. crude oil per day for refining into the nation. The deal requires Mexico to refine the crude oil at home and forbids re-export to other nations.
Swaps are permissible under current legislation. Barrel Russell, president of the Independent Petroleum Association of America, said the decision is long overdue step toward a full repeal of a U.S. crude oil export ban enacted in the 1970s.
Sen. Heidi Heitkamp, from North Dakota and Senate Energy Committee Chairperson Lisa Murkowski called on the Commerce Department to approve the Pemex request in February.



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