(Bloomberg) -- Mexico’s state oil company is offering crude oil in the spot market after fires hit half of its refineries.
Pemex’s trading arm PMI is offering 5 million barrels of a crude oil blend known as Mexican Blend Salina Cruz for July, with bids due next week, according to people with knowledge of the situation. The blend is typically processed by the country’s largest refinery of Salina Cruz which was one of three plants to suffer fires this year.
It’s unusual for Pemex to offer crude on the spot market, as the company typically sells the oil it doesn’t use itself in long-term contracts to accredited fuelmakers in the US, Europe and Asia. Prior to the recent spate of fires at Pemex refineries, the plants were churning out fuel at the highest rate in almost six years.
Pemex didn’t immediately return a request for comment.
--With assistance from Amy Stillman.
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