Oil refiner Valero has signed a long-term contract to use IEnova’s new oil products terminal at Veracruz. The facility will not come online until late 2018, but is designed to meet increasing demand for refined oil products in Mexico. Panjiva data shows Mexico’s imports climbed 14% on a year earlier. The port should allow Pemex to diversify its supplies – non-U.S. sources only accounted for 11% of supplies in the past quarter. That shouldn’t be overstated though as most of Valero’s operations are in the U.S., and a new rail line from the U.S. may beat the port to market.