Trading Litasco SA, a wholly owned subsidiary of Russia's LUKOIL, is preparing to sell fuel in Mexico. Concrete steps have already been taken in this direction.
Bloomberg writes about LUKOIL's Mexican plans. It is reported that Litasco has already opened an office in Mexico City and engaged trader Yuri Carreno. He was previously responsible in the state-owned company Pemex for the sale of petroleum products.
As oilcapital.ru recalls, LUKOIL and Mexico started cooperating back in 2015, after the Russian company got involved in the Amatitlan offshore project. As a result, by the end of 2018, LUKOIL and Eni signed an agreement that involved the exchange of stakes in blocks 10, 12 and 14 in Mexico's shallow-water offshore.
At the moment, Mexico is the largest fuel importer in Latin America. For its part, the Russian company is interested in the oil products market of this country. At the same time, Mexico's needs in fuels and lubricants are currently covered by the state-owned Pemex and companies from the United States.