Mexico’s state-run oil company Pemex could start swapping domestic heavy crudes for foreign light oil in the second half of the year to raise the quality of its fuels production, Chief Executive Carlos Trevino said. The company, whose crude output fell 3 percent to 1.89 million barrels per day (bpd) in the first quarter, is looking for lighter crude grades for its refining network, which is currently operating at 48 percent of its 1.54 million bpd capacity. “(The swap) continues on the table, we probably will be doing tests in the short term,” Trevino told Reuters in an interview on the sidelines of the Offshore Technology Conference. “We will bring crude from where it is convenient.” Exchanges, which […]