Mexican state energy company Pemex is actively seeking to diversify its market for both motor fuel imports and crude oil exports, according to the head of its international trading unit, PMI.
PMI Chief Executive Officer Margarita Perez stated, "If new opportunities in other markets open, we'll pursue them and are pursuing them," during a panel discussion in the Mexican Senate.
Her comments follow recent reports indicating that Pemex is looking to expand its market reach, including targeting China.
Perez emphasized the importance of a diversification strategy, particularly in light of U.S. President Donald Trump's recent threats to impose tariffs on countries purchasing oil from Venezuela.
Trump announced an executive order on Monday imposing a 25% tariff on trade with nations buying oil from the South American country.
"Not having certainty in the market creates a lot of volatility," Perez noted.