Page 6 - LatAmOil Week 35 2022

LatAmOil MEXICO LatAmOil

Eni ramping up deliveries of

Mizton grade crude to US markets

AS US refiners seek alternatives to embargoed Gulf grades, it is well-suited for processing by
Russian oil for processing along with domestic US-based refiners, noted Rohit Rathod, a sen-
varieties of crude, Italy’s Eni is making the most ior oil analyst at the energy data firm Vortexa.
of a promising market opportunity by bringing Rathod also pointed out that the new Mexican
Mexico’s new export grade, Mizton, to the US grade was a good substitute for Urals Blend, Rus-
markets. sia’s flagship export grade, which cannot now be
Shipments of Mizton crude originate from legally imported into the US. Urals accounted
Area 1, a shallow-water block in the southern for about 3% of total US crude imports in 2021,
Gulf of Mexico that includes the Miztón, Amoca so the ban on Russian crude imports since sanc-
and Tecoalli offshore fields. Eni gained the right tions were imposed in April in response to the
to explore and develop Area 1 some years ago invasion of Ukraine has left US refiners eager to
as a result of the Mexican government’s energy secure a replacement.
reform initiatives in 2013-2014, and it brought Eni’s Miamte MV 34 FPSO has been oper-
the Miztón field on stream in mid-2019. It ating since February. The newbuild vessel can
then off-loaded and exported its first cargo of handle 90,000 barrels per day (bpd) of crude oil
crude oil from the block in April of this year and 75mn cubic metres per day of natural gas
following the installation of the Miamte MV and can also store 700,000 barrels of crude. ™
34 floating production, storage and off-loading
(FPSO) unit. This marked the first time that an
entity other than state-owned Pemex had ever
exported crude oil from Mexico.
Since April, Eni has tankered four cargoes
of Mizton crude to US ports, with combined
shipment volumes amounting to 2.2mn barrels.
Buyers have included New Jersey-based PBF
Energy and Ohio-based Marathon Petroleum.
Meanwhile, a fifth shipment of 525,000 barrels
was due to be delivered to PBF Energy on the US
East Coast last week. Eni used the Aframax-size
Nippon Princess tanker for the fifth cargo, Reu-
ters reported, citing shipping tracking data.
Mizton crude is lighter and sweeter than
Mexico’s standard export grade, Maya. It is a
medium sour with a specific gravity of 28.5
degrees API and sulphur content of 1.53%.
Since Mizton is similar in quality to other US Eni began early production at the Miztón oilfield in June 2019 (Image: Eni)

BARBADOS
Barbados set to offer all 22 open offshore

blocks to investors in next licensing round

BARBADOS will offer all 22 available blocks in auctions at the weekend, shortly before the
its offshore zone to international oil companies scheduled start of its 2022 Licensing Round
(IOCs) in a bidding round in the fourth quarter Roadshow at the AAPG Image 22 conference in
of this year, the Ministry of Energy and Business Houston on August 30-September 1. The road-
Development has announced. show included a presentation by Jamar White,
The ministry went public with news of the the ministry’s director of natural resources.

P6 www. NEWSBASE .com Week 35 31•August•2022