Deals
Pemex Completes 4.6% Repsol Purchase, Foresees Ventures
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Petroleos Mexicanos, the shareholder doubling its stake in Spanish oil company Repsol YPF SA, wants to jointly drill in deep waters though media reports say Repsol is resisting the growing power of Mexico’s state-owned company.
A deep-water project is “an alternative that we haven’t discussed with Repsol, but could be a win-win for Repsol and us,” Juan Jose Suarez Coppel, chief executive officer of the company known as Pemex, said yesterday in Mexico City. The company bought 56.38 million Repsol shares to increase its stake by 4.62 percent, according to a Madrid regulatory filing today.