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Resourse: EIA

U.S.-Mexico crude oil swaps approved last month by the U.S. Departmentof Commerce's Bureau of Industry and Security will likely involve exchanges ofU.S. light sweet crude for Mexican heavy sour crude that is already beingexported to the United States. The swaps, which are provided for underlongstanding regulations governing U.S. crude oil exports, are expected to beboth economically and environmentally beneficial to both parties because ofdifferences in crude oil qualities as well as differences in each country'spetroleum refineries. The swaps will allow a greater degree of operationalefficiency in both Mexico and the United States while allowing for increasedsupply of lower-sulfur gasoline from Mexican refineries.

With significant coking and desulfurization capacity, U.S. Gulf Coastrefineries are well-suited to process heavy sour crude, but much of the recent crudeoil production gains in the United States have been light sweet crudes comingfrom plays such as Eagle Ford. There are six major refineries in Mexico. Threeof them, representing 42% of total capacity, have coking units and can producelower-sulfur gasoline. The other three refineries do not have cokers andrelated upgrading units. Consequently, they produce only limited amounts oflower-sulfur products and are not well-configured to process heavy sour crudeoil. In 2014, the six refineries processed 1.2 million barrels per day (b/d) ofcrude oil, which included 658,000 b/d of Isthmus, a medium sour crude, and497,000 b/d of Maya, a heavy sour crude blend.

Although the full effects of crude oil substitution in refineries canbe complex, EIA analyzed the relative product yields and the sulfur levels ofthe resulting products for three Mexican crude oils (Maya, Isthmus, and Olmeca)along with the same information for U.S. crude oil and condensate produced fromthe Eagle Ford formation of southern Texas. As shown in the figure, bothproduct yields and the sulfur levels of the distillation products vary amongthe different crude oils. Notably, while Olmeca has similar product yields tosome of the Eagle Ford crude produced in the United States, the Eagle Fordcrude has lower sulfur content.

The difference in sulfur content is particularly important for thenaphtha cut, which is blended or further refined to make motor gasoline. Mexicohopes to achieve a level of 30 parts per million (ppm) for all gasoline nationwide;fuel meeting this sulfur specification is currently available only in majorMexican metropolitan areas or in premium fuel.

The partial substitution of Eagle Ford crude for Mexican crudes (suchas Isthmus and Olmeca that are run either straight or blended with heavierMexican crudes such as Maya) in Mexican refineries would free up sulfur removalcapacity in the Mexican refining system. This would, in turn, allow thatcapacity to be used to produce more lower-sulfur gasoline than is currentlypossible. Any increased supply of lower-sulfur gasoline to Mexico's motorgasoline market, which consumed 761,000 b/d in 2013, would result in reducedsulfur emissions and other environmental benefits.

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