Mexico restricts petroleum products imports to curb fuel theft
The Mexican government recently took a bold decision to restrict the imports of petroleum and petrochemical products. The decision was taken in wake of ongoing fuel adulteration and theft across the country. These include jet fuel, diesel, gasoline and additives. Although Mexico contains huge reserves of crude petroleum, the country is a prominent importer of petroleum products. This is basically due to incompetence in refining petroleum products by the Mexican oil companies. As per Mexico import data reports, the country’s overall imports totaled to be $40 billion in this financial year. 90% of Mexico's overall petroleum products imports came from the United States. Netherlands was the second major petroleum product exporter to Mexico with a share of over 3%. Also, Mexico had made a notable amount of crude petroleum products from Japan, China, Singapore, Malaysia, South Korea, Spain, Germany and Canada. Exxonmobil Mexico, Valero Marketing & Supply, Koch Supply ...