Mexican state oil company Pemex said on Thursday May 14th it has signed a contract with South Korea’s Hyundai to sell the company crude in the second half of this year.
A Pemex spokesman said the contract calls for 5 million barrels to be sold to Hyundai Oilbank Co Ltd, mostly heavy Maya crude as well as some of Pemex’s Isthmus light crude.
“The contract remains open for additional sales,” the spokesman added, who spoke on condition of anonymity in line with company policy.
Hyundai Oilbank Co Ltd is a major producer and distributor of oil and refined products in South Korea, and is part of conglomerate Hyundai Group.
In March, the head of Pemex’s trading arm PMI said that by the end of this year the company expected to double crude exports to South Korea, one of the firm’s top markets as it seeks to diversify its sales away from the United States.
Pemex announced earlier this year a 1 million barrel crude shipment to South Korea’s second-biggest refiner, GS Caltex Corp, the first installment of a separate 5 million barrels in shipments to the country that was expected to be finalized in April.
more recommended stories
7-year-old migrant girl taken into Border Patrol custody dies of dehydration, exhaustion
7-year-old girl from Guatemala died of.
Trump keeps saying: “Build that Wall”
WASHINGTON (AP) — President Donald Trump.
Yucatan Federal Government look for young people and adults older than 68 to support them
The Federal Government develops the first.
Chichen Itza joined the ritual to Mother Earth to build the Mayan Train project
On Sunday Dec. 16, at the.
Amazon uses dummy parcels to catch thieves
Amazon has teamed up with police.
Maya train will be up and running in 4 years
After the start of the construction.
Valladolid Municipal Bazaar registers good sales during December
Vendors of the municipal bazaar of.
Spain’s Ángela Ponce breaks paradigms in Miss Universe
After the Spanish Ángela Ponce, the.
Possible 2020 candidate Beto O’Rourke meets with young refugees at US-Mexico border
Flanked by a group of politicians.
Gabriel García Márquez niece rescued from kidnappers after four months
BOGOTÁ (EFE) .- Colombian authorities rescued.