The race is on in Mexico's oil sector opening.
From Stratfor
Mexico: Pemex Signs Memorandums Of Understanding With Chinese Firms
Mexican state-owned energy firm Petroleos Mexicanos, commonly referred to as Pemex, has signed three memorandums of understanding with Chinese firms, according to a Nov. 13 company press release. Pemex and Chinese state energy firm China National Offshore Oil Corp. signed an agreement on exploration and production of heavy crude and mature oil fields. It also signed an accord with the Industrial and Commercial Bank of China for a $10 billion line of credit to fund upstream projects and acquisition of equipment for offshore areas. A second line of credit with the China Development Bank to fund upstream projects was also agreed upon |
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