Thursday, 10 July 2014

Pemex may issue more debt as it seeks JV partners

MEXICO CITY (Bloomberg) -- Petroleos Mexicanos, the country’s largest bond issuer, may sell more debt to fund JVs as the government ends its 75-year monopoly on oil production. Pemex has identified potential partners and plans to move “very fast” in establishing JVs after additional industry reform legislation is approved, CFO Mario Beauregard said July 9 in an interview in Mexico City. Financing to assist with projects in deep water and output from shale formations may be funded by increasing the company’s bond sales, which will total $10 billion this year, he said.


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