Mexican state-owned oil company Petroleos Mexicanos SA de CV
(Pemex) has signed a memorandum of understanding with the
Export-Import Bank of Korea (Korea Eximbank) for a $2-billion
credit line to be used to finance various energy projects.
"Pemex will have a new
financing option to carry out projects that will allow it to
increase production and profitability," Pemex said Oct. 16.
The deal was signed in
South Korea by Pemex chief execitive officer Emilio Lozoya
Austin and Eximbank chief executive officer Yong Hwan Kim.
A day earlier, Pemex declared the tender void for the second
phase of its $1.8-billion Los Ramones natural gas pipeline
project after only one bidder made an offer.
A version of this
article was first published in AMM sister publication Steel