trading division of LUKOIL opened an office in Mexico City – Kommersant
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The office of the trading division of LUKOIL Litasco opened in Mexico City, sources said Bloomberg. The Russian oil company has been operating in the country since 2015. The United States is the largest supplier of gasoline and diesel fuel to Mexico, accounting for 90% of imports.
Litasco has hired trader Yuri Carreno, who spent 25 years as a senior petrochemicals trader at Pemex’s trading division in Mexico, sources told Bloomberg. According to the agency, Mr. Carreno started work in July. He and the company did not respond to requests for comment.
Mexico, according to Bloomberg, is the largest fuel importer in Latin America. The opening of Litasco there opens up a new market for Russian oil products, which are under G7 and EU sanctions. According to Bloomberg, Mexico has only imported fuel from Russia once since the outbreak of hostilities in Ukraine, but some other Latin American countries have increased purchases.
In 2015, LUKOIL joined the Amatitlan block development project in the Gulf of Mexico. In 2017, he won the tender for block 12, in 2018 he won the right to conclude a contract for block 28 as part of a consortium with Eni. In the same year, he agreed with Eni on the mutual acquisition of shares in blocks 10 and 12.
About the work of the company in Mexico – in the material “Kommersant” LUKOIL expands in Mexico.
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