Japan Signs Contract for Mexican Crude: Japan...
From Times Staff and Wire Reports
Japan Signs Contract for Mexican Crude: Japan will buy 150,000 barrels of Mexican crude oil a day during the next five years, officials of the two countries said. The export contract was signed Sunday in Tokyo. Japan invested $15 million in the construction of a 160-mile pipeline stretching from the Caribbean city of Veracruz to the Pacific port of Salina Cruz. The pipeline, expected to be completed this spring, will enable Japanese importers to bypass the Panama Canal. Japan imports 14% of Mexico’s oil exports.
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