GC refiner bids for Mex oil storage

A bid to build marine storage facilities underscores a growing market between U.S. and Mexico. Major American refiners are looking to enter Mexico’s gasoline market. It could be a development that benefits medium-range tanker demand in the near future. Sources have said that Texas Gulf Coast-based Valero Energy has filed an application with Mexico’s energy regulators to build storage facilities. Along with two proposed inland facilities, one application is for storage of 1M barrels of refined products at the Mexico’s East Coast Port of Altamira. The marine terminal could receive supplies from Valero refineries along the U.S. Gulf Coast. (Source: Tradewinds 07/06/17) Gulf Coast Note: In 2011, Valero acquired a refinery operation near New Orleans.