Tim Samples, an associate professor of legal studies in the Terry College of Business, is quoted in an article by The Wall Street Journal about the changing customer base of Mexico’s state oil company, Pemex.
As U.S. demand for light crude from Pemex (short for Petróleos Mexicanos) dwindles, the company needs to find other buyers, according to the article.
“Mexico is wise to seek diversification in export markets right now. The boom in the U.S. and Canada could continue to encourage Mexico’s effort,” said Samples, an expert on the Mexican energy sector. “The market for Olmeca has been disturbed by the shale boom while the heavy-crude market is not as immediately challenged.”