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According to Dow Jones Mexico City, Mexico's national oil giant Pemex said recently that Mexico has successfully developed a technology that can improve the quality of heavy crude oil, which will promote the country's heavy crude oil production and export volume.
Pemex said in the announcement that the technology was developed by the Mexican Petroleum Institute (MPI) to make the processing of heavy crude oil easier and to increase the market value of heavy crude oil.
Pemex's current crude oil production is 3.3 million barrels per day, 70% of which is heavy crude oil, while exports are 1.86 million barrels per day, of which more than 80% are heavy crude oil.
According to Pemex, this technology can convert heavy crude oil into medium crude oil at a lower cost.
Pemex said that in August the company had tested the technology using heavy crude oil with an API of 13 from the Ku-Maloob-Zaap field, and the results were better than expected. The company will evaluate the feasibility of the large-scale promotion of the technology.