Mexico's Pemex, First Reserve Sign $1B Cooperation Deal

Reuters

MEXICO CITY, April 7 (Reuters) - Mexico's state-controlled oil company Pemex and U.S. private equity firm First Reserve have signed a cooperation agreement worth up to $1 billion to develop energy infrastructure, transportation and processing projects, Pemex said on Tuesday.

Last month, First Reserve and BlackRock Inc took a joint stake worth about $900 million in the second phase of Mexican pipeline project Los Ramones.

A Pemex spokesman said the deal made public on Tuesday was separate from the one announced last month.

(Reporting by Joanna Zuckerman Bernstein; Editing by Dave Graham)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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